The supply curve of U.S. dollars in the foreign exchange market is:
a. downward-sloping because it is negatively related to U.S. exports.
b. downward-sloping because it is negatively related to U.S. imports.
c. upward-sloping because it is positively related to U.S. exports.
d. upward-sloping because it is positively related to U.S. imports.
e. horizontal because it is unrelated to foreign demand for U.S. goods and services.
d
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a. True b. False Indicate whether the statement is true or false
Laura's Pizza Place incurs $800,000 per year in explicit costs and $100,000 in implicit costs. The restaurant earns $1.3 million in revenues and has $5 million in net worth. Based on this information, what is the economic profit for Laura's Pizza Place?
A) $200,000 B) $400,000 C) $500,000 D) $2.8 million