Suppose the yen value of a $100,000 wheat import contract rises from ¥12,000,000 to ¥13,000,000 between the contract and the payment date. This implies that the yen value of 1 dollar has declined so that, other things equal, we can expect an increase in Japanese demand for U.S. goods
a. True
b. False
Indicate whether the statement is true or false
False
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A situation in which each firm selects its best action, given what its rivals are doing, is called a
A) Nash equilibrium. B) Cooperative equilibrium. C) Stackelberg equilibrium. D) zero sum game.
What are direct expenditure offsets and how do they influence the effects of fiscal policy?
What will be an ideal response?
The law of demand includes the statement "other things being equal." These other things include all of the following EXCEPT
A) the price of the good itself. B) the price of related goods. C) incomes. D) tastes.
Which of the following best represents economic growth?
A. an increase in real Gross Domestic Product (GDP) B. an increase in nominal Gross Domestic Product (GDP) C. an increase in the per capita nominal Gross Domestic Product (GDP) D. an increase in the per capita real Gross Domestic Product (GDP)