Under a system of flexible exchange rates, a decrease in the demand for a country's currency on the foreign exchange market will:
a. cause the country's currency to depreciate in value
b. cause the country's currency to appreciate in value.
c. make the country's goods more expensive to foreigners.
d. make foreign goods less expensive to the country's citizens.
a
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While it is possible to erect barriers to foreign competition and save domestic jobs, restricting international trade may impose large costs on an economy
a. True b. False Indicate whether the statement is true or false
An increase in the minimum wage
a. increases both the quantity demanded and the quantity supplied of labor. b. decreases both the quantity demanded and the quantity supplied of labor. c. increases the quantity of labor demanded but decreases the quantity of labor supplied. d. decreases the quantity of labor demanded but increases the quantity of labor supplied.