An increase in the U.S. demand for foreign exchange will cause
a. an increase in the price of foreign exchange, which is a depreciation of the U.S. dollar, making foreign goods cheaper to U.S. residents.
b. an increase in the price of foreign exchange, which is a depreciation of the U.S. dollar, making foreign goods more expensive to U.S. residents.
c. a decrease in the price of the U.S. dollar, which is an appreciation of the U.S. dollar.
d. an increase in the price of foreign exchange, which is an appreciation of the U.S. dollar.
e. a decrease in the price of foreign exchange, which is an appreciation of the U.S. dollar.
B
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If the marginal propensity to consume (MPC) is 4/5, the value of the simple multiplier is: a. 4
b. 1/5. c. 4/5. d. 5/4. e. 5.
The largest trading partner of the United States is
a. Mexico. b. Canada. c. the European Union. d. Japan.
The theory of the kinked demand curve is used to explain
a. bizarre corporate behavior. b. sales maximization. c. the maximin criterion. d. sticky prices in oligopolies.
In 2016, if you earned $200,000 in income, you would pay approximately __________ in taxes to fund Social Security; if you earned $1,000,000 in income, you would pay approximately __________ in taxes to fund Social Security.
A. $94,200; $913,200 B. $14,700; $73,500 C. $7,350; $7,350 D. $12,400; $62,000