Under a flexible exchange rate system, if the quantity supplied of dollars is greater than the quantity demanded of dollars, there is a:
A) balance of payments deficit and the dollar would depreciate.
B) balance of payments surplus and the dollar would depreciate.
C) balance of payments deficit and the dollar would appreciate.
D) balance of payments surplus and the dollar would appreciate.
A
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Marginal profit is the additional profit that accrues to the firm when the output rises by one unit.
Answer the following statement true (T) or false (F)
The midpoint formula for elasticity of demand solves the problem of:
A. whether elasticity of demand is really positive or negative. B. whether to use quantity or price in the numerator. C. which price or quantity to use as the initial value of the variable. D. whether to use quantity demanded or supplied.
If fixed costs do not change, then marginal cost
A) also remains constant. B) equals the change in variable cost divided by the change in output. C) equals the change in average variable cost divided by the change in output. D) equals the change in average fixed cost divided by the change in output.
Between 1955 and 2006, Federal Spending as a percentage of GDP ranged between
A. 22% and 30%. B. 16% and 22%. C. 35% and 45%. D. 47% and 61%.