If the exchange rate is defined as the price of the foreign currency in terms of the domestic currency, an increase in the exchange rate:
a. increases domestic demand for foreign goods.
b. makes domestic goods cheaper in the foreign markets.
c. lowers net exports.
d. lowers aggregate expenditure on domestic goods.
e. increases the domestic country's external debt burden.
b
Economics
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Singapore had a GDP per capita of $395 in 1960, and $52,918 in 2013. The U.S had a GDP per capita of $2,881 in 1960 and $52,839 in 2013. Such a growth is referred to as:
A) instant growth. B) disguised growth. C) catch-up growth. D) sustained growth.
Economics
Define subsistence level. What happens if the income in an economy exceeds the subsistence level in Malthus cycle?
What will be an ideal response?
Economics