In a system of flexible exchange rates, a reduction in the money supply will cause
a. a rise in the value of the dollar relative to foreign currencies.
b. a fall in the value of the dollar relative to foreign currencies.
c. no change in the value of the dollar relative to foreign currencies.
d. a change in the value of the dollar relative to foreign currencies but the direction of the change is uncertain.
A
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While the short-run Phillips curve is upward-sloping, the long-run Phillips curve is downward-sloping
Indicate whether the statement is true or false
If product price increases, then:
A. MP will increase. B. MFC will increase. C. MRP will increase. D. MP will decrease.
The U.S. sugar price support program has:
A. cost U.S. consumers much more than it has benefited U.S. sugar producers. B. cost U.S. consumers much less than it has benefited U.S. sugar producers. C. reduced the price of sugar to U.S. consumers. D. increased sugar imports as a percentage of U.S. sugar consumption.
What are the differences between economic cost and accounting cost?
What will be an ideal response?