If the U.S. demand for British pounds increases,
a. the dollar price of a British pound will increase
b. the dollar price of a British pound will decrease
c. the exchange rate between dollars and pounds will be out of equilibrium
d. the pound will fall in value against the dollar
e. there will be no change in either the value of the dollar or the pound
A
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Which question is an illustration of a microeconomic question?
A. Is the volume of wine produced in one year dependent upon the price of wine? B. Does government spending influence interest rates in the economy? C. Is the purchasing power of the dollar higher or lower today than it was in 2008? D. Which economic system is better for consumers and firms?
In a world of certainty about future demand and supply, speculators cause price fluctuations across time to decrease.
Answer the following statement true (T) or false (F)