An appreciation of the U.S. dollar relative to the Japanese yen causes
A) a lower dollar-price of Japanese goods which induces the U.S. to increase their purchasing of Japanese goods.
B) the quantity demanded of U.S. dollars to increase because the Japanese want to buy more U.S. goods.
C) the Japanese to buy more U.S. goods, causing the dollars to appreciate further.
D) the U.S. to buy less Japanese goods, causing the U.S. to depreciate.
A
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The demand curve for labor is the
A) marginal factor cost curve for labor. B) marginal physical product curve for labor. C) marginal physical product curve for labor times the wage rate. D) marginal revenue product curve for labor.
An increase in consumer income will shift both the supply and demand curves.
Answer the following statement true (T) or false (F)
In the U.S. GDP, imports
A. Are the total of U.S. goods sent abroad. B. Include black-market goods. C. Are goods purchased from foreign sources. D. Include smuggled goods.
A monopoly has two production plants with cost functions C1 = 50 + 0.1Q12 and C2 = 30 + 0.05Q22. The demand it faces is Q = 500 ? 10P. What is the condition for profit maximization?
A. MC1(Q1 + Q2) = MC2(Q1 + Q2) = MR (Q1 + Q2). B. MC1(Q1 + Q2) = MC2(Q1 + Q2) = P (Q1 + Q2). C. MC1(Q1) = MC2(Q2) = MR(Q1 + Q2). D. MC1(Q1) = MC2(Q2) = P(Q1 + Q2).