The U.S. dollar exchange rate, e, expressed as Japanese yen per U.S. dollar, will appreciate when:
A. U.S. consumers increase their preference for Japanese cars.
B. real GDP in the U.S. decreases.
C. the U.S. Federal Reserve eases monetary policy.
D. real GDP in the U.S. increases.
Answer: B
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Deadweight losses occur in markets in which
a. firms decide to downsize. b. the government imposes a tax. c. profits fall because of low consumer demand. d. equilibrium prices fall.
The direct trade of goods and services for other goods and services is called
A. diversification. B. financial intermediation. C. barter. D. using a medium of exchange.
The percentage of African-Americans whose incomes are in the bottom 40% of income earners in the U.S. is
A. about 37%. B. about 57%. C. about 24%. D. about 47%.
Refer to the information provided in Table 13.3 below to answer the question(s) that follow. Table 13.3Price ($)Quantity4.001003.502003.003002.504002.005001.506001.00700Refer to Table 13.3. If a monopoly faces the demand schedule given in the table, what is its marginal revenue from the 600th unit it sells?
A. -$1 B. $1 C. $1.50 D. $100