Foreign exchange market intervention involves the purchase or sale of currencies by governments to influence the market exchange rate
Indicate whether the statement is true or false
TRUE
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If the demand increases in a perfectly competitive market, what will likely occur?
A. The short-run supply curve will shift to the right, causing price to eventually fall. B. Firms will temporarily make a profit due to a higher price. C. Firms will enter the market in hopes of capturing some profits. D. All of these are true.
A wage rate that is adjusted for changes in the price level is known as the
A) nominal wage. B) minimum wage. C) functional wage. D) real wage.
A shift in demand occurs when
A) the price of that good changes. B) the amount demanded of a good changes at each existing price. C) there is a change in quantity demanded. D) the price changes and the good is a normal good.
Suppose that a new study finds that eating more fish will improve a person's health. As a result
A. a smaller amount of fish will be purchased. B. the price of fish will fall. C. the demand for fish will rise. D. the demand for fish will fall.