The exchange rate that equates the quantities of currency supplied and demanded in the foreign exchange market is called the ________ exchange rate.
A. target value of the
B. market equilibrium value of the
C. real value of the
D. fixed value of the
Answer: B
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An increase in the value of the U.S. dollar will
A) reduce Canadian demand for winter homes in Arizona. B) increase Canadian demand for winter homes in Arizona. C) reduce the cost of homes in Arizona for Canadian buyers. D) increase the cost of homes in Arizona for American buyers.
Other things remaining the same, when a fall in the price of one good is followed by an increase in the demand for another good, both goods are said to be:
a. inferior goods. b. substitute goods. c. Giffen goods. d. public goods. e. complementary goods.
Explain how changes in relative income affect the value of a nation’s currency.
What will be an ideal response?
The government just signed an agreement with a collection of automobile manufacturers specifying which production techniques are allowed and which are banned due to environmental concerns. This action answered the basic economic question of ______.
a. What is the best method of production? b. How will the goods and services be produced? c. Who will get the goods and services? d. What goods and services will be produced?