In the foreign exchange market, an increase in the exchange rate leads to
A) an increase in the quantity of dollars demanded and no movement along the demand curve for dollars.
B) an increase the quantity of dollars supplied and a movement along the supply curve of dollars.
C) an increase the quantity of dollars supplied and no movement along the supply curve of dollars.
D) a decrease the quantity of dollars supplied and a movement along the supply curve of dollars.
E) an increase in the quantity of dollars demanded and a movement along the demand curve for dollars.
C
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Bill's Lawn service starts the year with 20 lawn mowers. During the year, 3 mowers break and are not worth fixing. Bill also expands his business and buys 10 more mowers. Bill's net investment is ________ mowers
A) 13 B) 7 C) 10 D) 20 E) 27
In the first half of 2008, food and energy costs in the United States increased. At the same time, the financial crisis slowed production. As a result, economists warned that the economy would
A) suffer an inflationary gap. B) see a decrease in aggregate demand and an increase in long-run aggregate supply. C) experience stagflation. D) see an increase in potential GDP.
The demand for a product at a given time is defined as the
a. desire for it. b. sum spent on it. c. measure of total utility for it. d. amount that would be bought at various prices.
By summing the quantities demanded by individuals at each price we obtain the
A) equilibrium price. B) market demand curve. C) market supply curve. D) individual demand curve.