The foreign exchange rate affects agriculture because
A) A weaker dollar makes depresses the export demand for U.S farm commodities.
B) A stronger dollar enhances the export demand for U.S. farm commodities.
C) A weaker dollar makes imports of inputs used by U.S. farmers.
D) None of the above.
Answer: D
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Economists point out that the strong inflow of undocumented workers to some extent reflects the:
A. Increasing return to capital in the United States B. Increasing scarcity of unskilled labor in other countries C. More lenient immigration laws D. Increasing scarcity of domestic unskilled labor in the United States
The estimate of potential GDP would decrease if
a. the rate of capital depreciation increased. b. the labor force decreased. c. the price level grew. d. All of the above would increase potential GDP.
Which of the following is true concerning the distribution of income?
a. Various measures of income inequality can be used to objectively determine the fairness of an income distribution. b. When the political process is democratic, income transfer programs will redistribute income from the rich to the poor. c. The fairness of an income distribution is a normative concept; it cannot be determined objectively by economic criteria. d. Income inequality is the fairest method to allocate income.
"All else constant, consumers will purchase more of a good as the price falls." This statement reflects the behavior underlying:
A. a change in supply. B. the supply curve. C. the demand curve. D. a change in demand.