Answer the following statements true (T) or false (F)
1. Exports are financially recorded as negative entries in the balance of payments since the
products leave the U.S.
2. An increase in U.S. interest rates would cause a decrease in the demand for U.S. dollars.
3. An expansionary monetary policy by the Federal Open Market Committee would cause interest rates to decline and the exchange rate to depreciate, ceteris paribus.
4. Comparative advantage is a monetary concept and is affected by changes in exchange rates or inflation.
5. The mercantilist philosophy argues that nations can become rich and powerful by exporting
more than they import.
1. FALSE
2. FALSE
3. FALSE
4. FALSE
5. TRUE
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Indicate whether the statement is true or false
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