A substantial appreciation of the U.S. dollar will likely result in, all else equal,
A) lower demand for U.S. products and layoffs of U.S. workers.
B) increased demand for U.S. products and increased employment of U.S. workers.
C) lower foreign currency prices of U.S. products in foreign countries.
D) higher U.S. dollar prices of foreign products in the United States.
A
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Welfare caseloads tend to fluctuate with
a. business cycles. b. weather. c. stock markets. d. minimum wage rates.
Which of the following would cause an increase in the velocity of money?
a. An increase in the use of credit cards b. An increase in the money supply c. An increase in the demand for money d. A decrease in the rate of interest e. A decrease in nominal GDP and a constant money supply
Other things equal, when the supply of workers is scarce, one would predict that market wages would be
a. relatively high. b. relatively low. c. determined solely by factors that affect demand. d. determined outside the domain of economic theory.
Economists agree that a monopolistically competitive market structure
A) lowers consumer utility because consumers pay a price higher than the marginal cost of production. B) is detrimental to society because it leads to a waste of scarce resources. C) benefits consumers because firms produce products that appeal to a wide range of consumer tastes. D) can eliminate any excess capacity if all firms in the industry devote more funds to differentiating their products.