With everything else the same, in the foreign exchange market the
A) larger the value of U.S. exports, the greater is the quantity of dollars demanded.
B) lower the exchange rate, the smaller the amount of U.S. exports.
C) the lower the exchange rate, the smaller is the expected profit from buying dollars.
D) the higher the exchange rate, the cheaper are U.S.-produced goods and services.
A
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Last year, in a nation far to the South, real GDP was $90 million and 900,000 workers were employed. This year real GDP is $100 million, 950,000 workers are employed, and the number of hours each worker works per year did not change
Hence, labor productivity A) has decreased. B) has increased. C) has remained constant. D) cannot be compared between the two years because both real GDP and the number of workers increased. E) might have changed, but more information is needed to determine if it changed.
If a demand curve is unit elastic, then P times Q will remain constant when P changes
a. True b. False Indicate whether the statement is true or false