The U.S. dollar exchange rate, e, expressed as Japanese yen per U.S. dollar, will depreciate when:
A. the U.S. Federal Reserve tightens monetary policy.
B. U.S. consumers decrease their preference for Japanese cars.
C. real GDP in Japan increases.
D. real GDP in the U.S. increases.
Answer: D
Economics
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A firm's long-run position under perfect competition is often said to be efficient because
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