Caitlin has just decided to order a computer that is made in Japan. She needs to convert U.S. dollars for Japanese yen. This conversion takes place in the
A) International Monetary Fund.
B) target zone.
C) foreign exchange markets.
D) SDRs.
Answer: C
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Which of the following goods is likely to have an income elasticity of demand greater than one?
A) Salt B) Gasoline C) Diamond jewelry D) Bread
Does it appear that currency boards make fixed exchange rates credible?
What will be an ideal response?
International Economists cannot discuss the effects of international trade or recommend changes in government policies toward trade with any confidence unless they know
A) their theory is the best available. B) their theory is internally consistent. C) their theory passes the "reasonable person" legal criteria. D) their theory is good enough to explain the international trade that is actually observed. E) their theory accounts for China's unique position in international trade.
One of the assumptions of an economic analysis is that market functions are controlled by the government
a. True b. False Indicate whether the statement is true or false