An increase in U.S. income relative to other countries' incomes will
a. decrease the supply of dollars on the foreign exchange market
b. increase the demand for dollars on the foreign exchange market
c. decrease the demand for dollars on the foreign exchange market
d. increase the supply of dollars on the foreign exchange market
e. increase the price of exports
D
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In general, the faster inflationary expectations adjust, the: a. less macro policy can influence unemployment
b. better discretionary policy can be expected to work. c. slower the adjustment of the short-run Phillips curve. d. stronger the case for active policy. e. more effectively a policy can influence unemployment.
Which of the following correctly describes the external benefit resulting from an individual's purchase of a winter flu shot?
a. The flu shot is cheaper than the cost of treatment when you get the flu. b. The income of doctors increases when you get the flu shot. c. The flu shot reduces the likelihood others will catch the flu. d. The flu shot reduces the likelihood you will miss work as the result of sickness; therefore, you will earn more income.