If the Kenyan nominal exchange rate declines, and prices are unchanged in Kenya and abroad, then the Kenyan real exchange rate
a. does not change.
b. rises.
c. declines
d. None of the above is necessarily correct.
c
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Price decreases always increase economic efficiency.
Answer the following statement true (T) or false (F)
The percentage change in quantity demanded of good A divided by the percentage change in price of good B is the formula for
a. cross-price elasticity of demand. b. income elasticity of demand. c. zero elasticity of demand. d. infinite elasticity of demand.
The "Green Dot Program" is
a. an international law to reduce plastics in packaging b. a private plan in Germany for collection and recycling of packaging c. a waste management plan operated by the German government d. a model waste program because of its low start-up and operating costs
Economic theory suggests that the standard of living of American workers would rise if
a. automation were outlawed. b. the minimum wage were doubled. c. technological change increased output per worker. d. a larger proportion of the labor force was unionized.