An exchange rate is
A) the price of one currency in terms of another.
B) the monetary value of goods and services exchanged for imports.
C) the amount of gold a currency will buy.
D) All of the above.
A
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What effect did the decrease in the value of the dollar have on the U.S. trade deficit in the period from 2006 to 2009?
A. It decreased the trade deficit as Americans bought more U.S. capital goods. B. It decreased the trade deficit as foreigners were attracted to the increased value of U.S. products and Americans bought fewer imports. C. It increased the trade deficit as U.S. investors bought more domestic financial assets. D. It increased the trade deficit as Americans bought more imports and foreigners bought fewer U.S. products.
Graphically, the average productivity of labor would be illustrated by the slope of the marginal productivity curve at the relevant point
a. the slope of the total product curve at the relevant point. b. c. the negative of the slope of the marginal productivity curve at the relevant point. d. the slope of the chord connecting the origin with the relevant point on the total output curve.
If adopted by a firm, a labor-saving piece of technology is one that would:
A. increase labor demand. B. increase labor supply. C. decrease labor demand. D. decrease labor supply.
"Not all government programs benefit the relatively poor." Discuss this statement with examples