If there is currently a surplus of dollars, which of the following would you expect to see in the foreign exchange market?
A) The dollar will appreciate.
B) The dollar will depreciate.
C) There will be a decrease in the demand for dollars.
D) There will be a decrease in the supply of dollars.
Answer: B
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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.
The long-run Phillips curve is a horizontal line at the natural rate of unemployment
a. True b. False Indicate whether the statement is true or false