What is the primary benefit to the United States of a low price for the dollar in the foreign exchange market?
A. It encourages exports, helping producers.
B. It makes foreign goods cheaper, helping consumers.
C. There are no benefits to the United States of a low price for the dollar; a higher price is always better.
D. It helps keep inflation under control.
Answer: A
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In the above figure, for a single-price monopoly the deadweight loss is equal to the area
A) abP1. B) acP2. C) bce. D) bed. E) P1beP3.
An increase in the real exchange rate
A) makes imports more expensive. B) makes imports less expensive. C) does not affect import values. D) always makes the number of imports rise. E) makes domestic consumers spend more on only foreign imports.
Refer to the following payoff matrix:Player 1Player 2??ab?A$50,$5$25,$30?B$40,$2$20,$1The Nash equilibrium for the simultaneous-move game depicted in the payoff matrix is:
A. {(A,a)}. B. {B,b)}. C. {(A,a) and (A,b)}. D. There is no pure strategy Nash equilibrium to this game.
Use diminishing marginal utility to explain why millionaires often do not have many homes, even if they can afford it
Please provide the best answer for the statement.