U.S. exports, foreign travel in the U.S., and foreign capital inflow into the U.S. give rise to
A. a supply of foreign currencies.
B. a demand for foreign currencies.
C. a lower value of the U.S. dollar.
D. decreased foreign exchange reserves in the U.S.
A. a supply of foreign currencies.
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Lou and Alex live together and share household chores. They like to cook some meals ahead of time and eat leftovers. The table below shows the number of rooms they can each clean and the number of meals they can each cook in an hour. Rooms CleanedPer Hour Meals CookedPer HourLou54Alex33If Alex and Lou work out an efficient arrangement for these two chores, then under that arrangement:
A. Lou would do all of the cleaning and all of the cooking. B. Alex would do all of the cleaning, while Lou would do all the cooking. C. Alex and Lou each would do half of the cooking and half of the cleaning. D. Lou would do all of the cleaning, while Alex would do all of the cooking.
A monopolistically competitive firm: a. tries to differentiate its product from the products of competitors
b. faces a perfectly elastic demand curve for its product. c. unlike a perfectly competitive firm, is able to earn positive economic profits in the long run. d. is always a retail establishment.
An inflationary gap will exist when
a. aggregate demand grows more slowly than aggregate supply. b. there is downward pressure on prices. c. expenditures are not equal to aggregate demand. d. equilibrium GDP is greater than full employment GDP.
A tax on a market with elastic demand and elastic supply will shrink the market more than a tax on a market with inelastic demand and inelastic supply will shrink the market
a. True b. False Indicate whether the statement is true or false