Refer to the table. Suppose that the United States imports more products from Luteland than before. All else equal, the dollar price of luta will:
Answer the question on the basis of the following table, which indicates the dollar price of luta, the currency used in the hypothetical economy of Luteland:
A. rise and the dollar will depreciate.
B. fall and the dollar will depreciate.
C. rise and the dollar will appreciate.
D. fall and the dollar will appreciate.
A. rise and the dollar will depreciate.
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Scarcity arises because of
a. international trade disputes b. our unwillingness to share earth's bounty c. insatiable wants d. limited natural resources e. primitive technology
If a product's demand decreases as its supply simultaneously increases, the marginal revenue product curve will
A. shift to the left. B. remain unchanged. C. shift to the right. D. either shift to the left, shift to the right, or remain unchanged depending upon what happens to product price.
The most important source of financial capital for firms today is
A) sale of bonds. B) sale of new issues of stock. C) trade of previously issued stock. D) reinvestment of profits.
What is suggested by a Lorenz curve diagram with a line very close to the 45-degree line?
a. A mostly equal income distribution b. A highly unequal income distribution c. Rising wage rates across all income levels d. Declining wage rates for the middle class