The dollar appreciates against foreign currencies. This makes foreign-produced goods __________ for Americans and U.S.-produced goods __________ for foreigners. As a result, U.S. __________ fall and U.S. __________ rise
A) more expensive; cheaper; imports; exports
B) cheaper; more expensive; exports; imports
C) cheaper; more expensive; imports; exports
D) more expensive; cheaper; exports; imports
B
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What is required for a market to be considered monopolistically competitive? How does the equilibrium in a monopolistically competitive market resemble that in a perfectly competitive market? How are they different?
What will be an ideal response?
Sue's Surfboards is the sole renter of surfboards on Big Wave Island. If marginal revenue is positive at the number of surfboard rentals made each hour, then Sue's Surfboards
A) must face an elastic demand for surfboard rentals. B) must face an inelastic demand for surfboard rentals. C) can increase its total revenue by increasing the price of rentals. D) must face a unit elastic demand for surfboard rentals.
The United States abandoned the Bretton Woods system of exchange rates in
A) the 1920s. B) the 1940s. C) the 1970s. D) the 1990s.
Which of the following does not shift the supply of real loanable funds to the right (i.e., increase it)?
a. A rise in real income. b. Higher consumer indebtedness levels relative to income. c. The expectation of higher incomes. d. All of the above increase the supply of real loanable funds.