How does an increase in the real exchange rate affect exports and imports?
A) Exports increase; imports decrease.
B) Exports decrease; imports increase.
C) Exports increase; imports change ambiguously.
D) Exports change ambiguously; imports decrease.
E) Exports increase; imports are constant.
C
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Which of the following is a source of market power for a monopolist?
a. a firm may have a patent or copyright b. a firm may control critical resources c. a firm may have a government-authorized franchise d. a firm may enjoy economies of scale e. all of the above are sources of market power for a monopolist
If a good is inferior and income decreases, then
A. the supply curve will shift to the left. B. the supply curve will shift to the right. C. the demand curve will shift to the left. D. the demand curve will shift to the right.