A currency depreciation in the foreign exchange market will:
A. Encourage imports into the country whose currency has depreciated
B. Discourage imports into the country whose currency has depreciated
C. Discourage exports from the country whose currency has depreciated
D. Encourage foreign travel by the citizens of the country whose currency has depreciated
B. Discourage imports into the country whose currency has depreciated
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Price elasticity of demand is defined as
A) the percentage change in the quantity demanded of some product resulting from a one percent change in price. B) the percentage change in the quantity demanded of some product resulting from a change in price. C) the change in quantity demanded resulting from a one percent change in price. D) the change in quantity demanded resulting from a change in price.
For almost all goods, the:
A. lower the price goes, the higher the quantity supplied. B. higher the price goes, the more luxurious it is. C. lower the price goes, the more luxurious it is. D. higher the price goes, the higher the quantity supplied.