If the exchange rate has been $1.50 per British pound but now falls to $1.25 per British pound, there will be
a. more U.S. imports from Great Britain because the price of pounds has fallen
b. more exports to Great Britain because the price of pounds has risen
c. fewer exports to Great Britain because the price of the pound has risen
d. more U.S. exports to Great Britain since the price of the dollar has fallen
e. no change in either exports or imports
A
You might also like to view...
Discrimination that occurs because the discriminator dislikes another person's gender, race, or some other personal characteristic is known as
A) taste-based discrimination. B) indirect discrimination. C) justifying discrimination. D) statistical discrimination.
Which of the following is a difference between an oligopoly with differentiated products and a monopolistic competition?
A) There are no barriers to entry in an oligopoly with differentiated products, while there are huge barriers to entry in a monopolistic competition. B) There are huge barriers to entry in an oligopoly with differentiated products, while there are minimal barriers to entry in a monopolistically competitive market. C) Firms in an oligopoly market with differentiated products charge a price higher than marginal cost in the long run, while firms in a monopolistic competition charge a price lower than marginal cost in the long run. D) Firms in an oligopoly with differentiated products charge a price lower than average total cost in the long run, while firms in a monopolistic competition earn a price higher than average total cost in the long run.
From 8 P.M. to 10 P.M., Susan can attend a movie, study, or talk with friends. Suppose that Susan decides to go to the movie but thinks that, if she hadn't, she would otherwise have talked with friends
The opportunity cost of attending the movie is A) talking with friends and studying. B) studying. C) talking with friends. D) two hours of time.
According to the text, the price elasticity of demand for bath tissue has been estimated to be -2.42. This implies that a 10 percent decrease in the price of bath tissue would cause the quantity demanded of bath tissue to:
A) increase by 2.4 percent. B) decrease by 2.4 percent. C) increase by 24.2 percent. D) decrease by 24.2 percent.