As a result of the 2008-2009 financial crisis and the decrease in GDP in many European economies, we would expect
A) an increase in the demand for U.S. exports and a leftward shift in the demand curve for dollars.
B) a decrease in the demand for U.S. exports and a leftward shift in the demand curve for dollars.
C) a decrease in the demand for U.S. exports and a rightward shift in the demand curve for dollars.
D) a decrease in the demand for U.S. imports and a movement up along the demand curve for dollars.
B
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Which of the following statements best completes the following sentence; "Prior to World War I, when the U.S. was on the gold standard, inflation in the U.S…."?
A. averaged less than one percent per year and was stable. B. averaged 3.5 percent per year and was stable. C. averaged less than one percent per year and was highly variable. D. averaged 3.5 percent per year but was highly variable.
Suppose 100 townspeople value a statue of the local hero at $1 each, and construction of the statue would cost $90. Which of the following is true?
A. It would be efficient to build the statue, but it may not be built because some of the townspeople who value the statue will not contribute to its construction. B. It would be efficient to build the statue and it will be built because at least ninety of the townspeople will contribute to its construction. C. The statue will not be built because it is not efficient to build a statue that costs $90 if the townspeople value it at only $1. D. The statue will not be built because the local government does not have the power to tax only those who value it.