The quantity of U.S. dollars supplied in the foreign exchange market is
A) the same as the quantity of for U.S. dollars demanded.
B) negatively related to the exchange rate.
C) fixed at any given exchange rate.
D) unrelated to the exchange rate.
E) positively related to the exchange rate.
E
Economics
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A product is likely to have a price elasticity of demand that exceeds 1 when
A) its price falls. B) the percentage of income spent on it decreases. C) it is a necessity. D) it has close substitutes.
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The weight of empirical evidence suggests that in the United States, the real wage rate is
A) acyclical. B) bicyclical. C) procyclical. D) countercyclical.
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