Suppose the U.S. removes an import quota on steel. U.S. exports
a. increase, the real exchange rate of the U.S. dollar appreciates, and U.S. net capital outflow increases.
b. increase, the real exchange rate of the U.S. dollar depreciates, and U.S. net capital outflow is unchanged.
c. decrease, the real exchange rate of the U.S. dollar appreciates, and U.S. net capital outflow is unchanged.
d. decrease, the real exchange rate of the U.S. dollar depreciates, and U.S. net capital outflow decreases.
b
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Indicate whether the statement is true or false
The price of a bus ride decreases, and the total revenue of the bus company decreases. The demand for bus rides is ________
A) perfectly elastic B) inelastic C) unit elastic D) elastic but not necessarily perfectly elastic