Which of the following events is likely to generate a supply of U.S. dollars in the foreign exchange market?
A) A Saudi Arabian citizen buys a condominium in New York.
B) An American student will pay her way to attend her first year of college at Oxford, England.
C) Alabama Mills exports 5,000 bales of cotton to Pakistan.
D) Hans Meyer, a German citizen, plans to spend a month in California, sampling wines
Ans: B) An American student will pay her way to attend her first year of college at Oxford, England.
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Autoworkers negotiate a wage increase. How does this change affect the supply curve of cars?
A) It shifts the supply curve leftward. B) It does not shift the supply curve or create a movement along it. C) It shifts the supply curve rightward. D) The supply curve will shift but there is not enough information to tell if the change shifts the supply curve rightward, leftward, or not at all. E) It creates a movement downward along the supply curve.
Why is it true that under monopolistic competition the price is above marginal revenue while under pure competition price is equal to marginal revenue?
What will be an ideal response?