If the euro faces a currency crisis with its value falling from $1.40 per euro to $1.20 per euro, who would benefit the most?
a) An American car manufacturer trying to export cars to Spain.
b) Universal Studios Orlando, which wants more European tourists to visit its theme parks.
c) The Brown family from Florida who plans to visit Paris next month.
d) Jared, an American investor who purchased a 10,000 euro bond last year.
Ans: c) The Brown family from Florida who plans to visit Paris next month.
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Given that Sandy can produce 10 economics reports or 2 sales calls and Tim can produce 2 economics reports or 1 sales call, which of the following is FALSE?
A) Sandy has a comparative advantage in sales calls. B) Tim has a comparative advantage in sales calls. C) Sandy has a comparative advantage in economics reports. D) Sandy has an absolute advantage in both economics reports and sales calls.
Which of the following is an accurate statement concerning effects on the supply curve?
a. Few events will affect the supply curve but not the demand curve. b. Few events will affect the equilibrium curve but not the supply curve. c. Many events will affect the supply curve but not the demand curve. d. Many events will affect the supply curve but not the equilibrium curve.