Refer to the information provided in Figure 34.4 below to answer the question(s) that follow.
Figure 34.4Refer to Figure 34.4. The demand and supply of pounds are S2 and D2. Which of the following can change the equilibrium exchange rate ($/pound) to $1.50 and the equilibrium quantity to 400 pounds?
A. the price level in Great Britain decreases
B. United States purchases of British-made cars increase
C. income in Great Britain decreases
D. British purchases of U.S.-made cars increase
Answer: D
You might also like to view...
The above table shows the distribution of wealth and income in Miseria. What percent of wealth is owned by the poorest twenty percent?
A) 0 percent B) 2 percent C) 3 percent D) 5 percent
The international financial crisis of 2007 was the result of
A) failure of the Euro currency. B) runaway inflation in the U.S. C) a deep global recession. D) the collapse of global currency markets. E) defaults on U.S. mortgage-backed securities.
Cash welfare is now much less of a national program
Indicate whether the statement is true or false
If a firm decreases production, then its:
A. variable costs rise. B. total costs increase. C. fixed costs stay the same. D. All of these are true.