Refer to the scenario above. Julie should place a bid of ________

What is the difference between nominal exchange rates and real exchange rates?

What will be an ideal response?

If a country runs a deficit in its current account, it is because

a. exports exceed imports b. imports exceed exports c. net unilateral transfers are negative d. foreign currency received from exports and transfers exceeds the foreign exchange needed to pay for imports and to make unilateral transfers e. foreign currency received from exports and transfers is less than the foreign exchange needed to pay for imports and to make unilateral transfers