U.S. exports create a ________.
A. supply of foreign currencies and a demand for dollars in the foreign exchange markets
B. supply of foreign currencies and a supply of dollars in the foreign exchange markets
C. demand for foreign currencies and a demand for dollars in the foreign exchange markets
D. demand for foreign currencies and a supply of dollars in the foreign exchange markets
Answer: A
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The above table gives some of the costs of the Delicious Pie Company. What is the total fixed cost of producing 100 pies?
A) $300 B) $400 C) $700 D) More information is needed to calculate the total fixed cost.
A monopoly firm can make economic profit in the long run. A firm in monopolistic competition cannot. What creates this difference?
What will be an ideal response?
All of the following are examples of explicit cost a firm might incur except
A) taxes owed to the state government. B) the revenue a firm generates in using its resources. C) the rental value of the warehouse space the company owns and uses for itself. D) the out-of-pocket expense to hire employees.
Profit-maximizing employment is the quantity of labor at which
A) marginal revenue product is equal to marginal factor cost. B) marginal revenue product is equal to product price. C) marginal factor cost is equal to marginal revenue. D) marginal factor product is equal to product price.