An improvement in the quality of U.S. goods would lead to a ________ in the demand for dollars and a ________ in the exchange rate.
A. rise; rise
B. rise; fall
C. fall; rise
D. fall; fall
Answer: A
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A firm's decision to expand the size of its production facility would be considered a short-run decision so long as the expansion can be completed in less than a year
Indicate whether the statement is true or false
What best describes the impact of the cotton gin?
a. A decrease in the price and an increase in the quantity of cotton. b. An increase in the price and a decrease in the quantity of cotton. c. Decreases in both the price and quantity of cotton. d. Increases in both the price and quantity of cotton.
How does the equilibrium quantity traded change when there is an increase in supply and a decrease in demand?
The private market:
a. tends to overproduce public goods because they are nonrivlarous b. can produce public goods more efficiently than the government can c. earns excessive profit on public goods