As the dollar exchange rate, e, decreases, the quantity of dollars supplied in the foreign exchange market ________, and the quantity of dollars demanded in the foreign exchange market ________.
A. decreases; decreases
B. increases; increases
C. decreases; increases
D. increases; decreases
Answer: C
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Market price is $50. The firm's marginal cost curve is given by MC = 10 + 2Q
a. Find the profit-maximizing output for the firm. b. At this output, is the firm making a profit? Explain your answer.
Which of the following groups of people are members of the labor force?
a. People in prison. b. Full-time students. c. People over 16 years of age who are employed. d. Anyone not actively looking for work during the past 30 days.
A price floor set above an equilibrium price tends to cause persistent imbalances in the market because
a. Quantity demanded exceeds quantity supplied but price cannot rise to remove the shortage. b. Quantity demanded exceeds quantity supplied but price cannot fall to remove the surplus. c. Quantity supplied exceeds quantity demanded but price cannot rise to remove the shortage. d. Quantity supplied exceeds quantity demanded but price cannot fall to remove the surplus.
When a market is in equilibrium:
A. there is neither excess demand nor excess supply. B. both excess demand and excess supply are positive. C. both excess demand and excess supply are positive and equal to each other. D. there is either excess demand or excess supply.