If the demand of U.S. dollars drops sharply
A. the dollar will depreciate in value.
B. foreigners holding U.S. assets will suffer tremendous losses.
C. Americans will have to pay a lot more for imported goods.
D. All of the choices are true.
D. All of the choices are true.
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What is game theory and what light does it shed on the duopolists' dilemma?
What will be an ideal response?
On a diagram of a production possibilities frontier, opportunity cost is represented by the production possibilities frontier shifting outward
Indicate whether the statement is true or false
In a value added production function like the one used in the text, raw materials are
A. called intermediate goods. B. called final goods. C. are counted in the final product of any production process as part of the value of output. D. counted as inputs in a production process.
In a perfectly competitive constant-cost industry:
A. there is no way to predict what will happen to factor prices as industry output increases. B. factor prices rise as industry output increases. C. factor prices fall as industry output increases. D. factor prices do not change as industry output increases.