Consider the market for euros. Suppose the exchange rate is ________ its equilibrium. This means that the quantity of euros ________ is greater than the quantity of euros ________ and the exchange rate will ________
A) above; supplied; demanded; fall
B) below; supplied; demanded; rise
C) above; demanded; supplied; fall
D) below; demanded; supplied; fall
A
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Identify the correct statement from the following
a. Modern telecommunications turned cities like Omaha and Bangalore into new resources for the world. b. Being only 10 hours away from most of the industrial world enabled Anchorage, Alaska to become the busiest cargo airport in the world. c. Call centers in the U.S. set up shop in small towns to prevent large-scale migration to bigger cities. d. Unless a city is in an advantageous location for conducting any form of business, it is difficult to boost its economy in today's world.
The relationship between the quantity of inputs and the quantity of output is called the:
A. law of diminishing returns. B. average product. C. marginal product. D. production function.
Academic book publishers hire editors, designers, and production and marketing managers who help prepare books for publication. Because these employees work on several books simultaneously, the number of people the company hires will not go up and down
with the quantity of books the company publishes during any particular year. The salaries and benefits of people in these job categories will be included in A) fixed cost and marginal cost but not variable cost. B) fixed cost but not variable cost and total cost. C) marginal cost and total cost but not fixed cost. D) fixed cost and total cost but not variable cost.
The wage rate will fall and firms will increase employment to the point where MRP equals the new wage rate if
A. the demand for labor decreases. B. the demand for labor increases. C. the supply of labor increases. D. the supply of labor decreases.