Which of the following generates a supply of U.S. dollars?
A. The construction of a plant abroad by a U.S. corporation.
B. Chinese buyers of American aircraft.
C. The demand for U.S. exports to foreign countries.
D. Foreign tourists visiting the United States.
Answer: A
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The U.S. dollar exchange rate, e, where e is the nominal exchange rate expressed as Japanese yen per U.S. dollar, will appreciate when:
A. U.S. consumers increase their preference for Japanese cars. B. the Bank of Japan tightens monetary policy. C. real GDP in the U.S. increases. D. the U.S. Federal Reserve tightens monetary policy.
Long-run equilibrium will occur at the price level at which
A) the aggregate demand and long-run aggregate supply curves intersect. B) the short-run aggregate supply and long-run aggregate supply curves intersect. C) the long-run aggregate demand and short-run aggregate supply curves intersect. D) the aggregate demand and short-run aggregate supply curves intersect.
Which of the following is an accurate statement regarding the evolution of the Federal Reserve System?
A) The independence of the Federal Reserve has been systematically eroded by legislation. B) The Federal Reserve has shifted from an agency controlled by the states to a federally controlled agency. C) The Federal Reserve has shifted from a fiscal policy agency to a monetary policy agency. D) The Federal Reserve has shifted from a regional service agency to a national policy-making institution.
Ceteris paribus, the wages of clerks would increase if there was a decrease in: a. the period of training required for clerk jobs
b. non-monetary "fringe" benefits received by clerks. c. the marginal revenue product of clerks. d. the cost of medical insurance benefits paid to clerks.