An appreciation of a country's currency
A) decreases the relative price of its exports and lowers the relative price of its imports.
B) raises the relative price of its exports and raises the relative price of its imports.
C) lowers the relative price of its exports and raises the relative price of its imports.
D) raises the relative price of its exports and lowers the relative price of its imports.
E) raises the relative price of its exports and does not affect the relative price of its imports.
D
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Which of the following is NOT true of institutions?
A) Institutions affect incentives. B) Institutions are determined by individuals as members of society. C) Institutions are permanent and cannot be changed over time. D) Institutions act as constraints on the behavior of economic agents.
If the demand for insulin is inelastic, an increase in insulin prices leads to
A) less total revenue for insulin makers. B) more total revenue for insulin makers. C) no change in total revenue for insulin makers. D) first a decrease, then an increase in total revenue for insulin makers. E) Total revenue probably changes, but we need more information about the change in total expenditures on insulin to determine if the total revenue rises, falls, or stays the same.
When people reduce their rate of time preference
A) more credit is made available in the banking system. B) less credit is made available in the banking system. C) the demand for credit shifts right. D) the supply of credit shifts left.
The problem of political instability has been greatest in which continent?
A. South America B. Europe C. Asia D. Africa