U.S. exports create a ________.
A. supply of foreign currencies and a demand for dollars in the foreign exchange markets
B. supply of foreign currencies and a supply of dollars in the foreign exchange markets
C. demand for foreign currencies and a demand for dollars in the foreign exchange markets
D. demand for foreign currencies and a supply of dollars in the foreign exchange markets
Answer: A
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Jane lives and works in New York. Every month she sends $500 to her mother in London. This is an example of a(n) ________
A) import by the U.S. B) transfer payment to the U.K. C) export by the U.S. D) factor payment to the U.K.
The total amount of producer surplus in a market is equal to
A) the area between the demand curve and the supply curve below the market price. B) the difference between quantity supplied and quantity demanded. C) the area above the market supply curve. D) the area above the market supply curve and below the market price.