A market in which businesses, households, and governments buy and sell national currencies is
A) the foreign exchange market.
B) the currency exchange market.
C) the money exchange market.
D) the dollar exchange market.
A
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On the 45-degree line diagram, the 45-degree line shows points where
A) real aggregate expenditure equals real GDP. B) real aggregate expenditure equals C + I. C) real income equals real GDP. D) real aggregate output equals the quantity produced.
When a one-percent change in price is accompanied by a larger percent change in quantity demanded,
a. demand is inelastic b. supply is elastic c. the good is a normal good d. the good is an inferior good e. demand is elastic
The economy's money supply curve is vertical
a. True b. False
Two identical firms that share a market and produce a homogeneous good will find which of the following market outcomes LEAST desirable?
A) Bertrand Oligopoly B) Cournot Oligopoly C) Cartel D) All are equally preferable.