A change in the dollar price of yen from $1 = 100 yen to $1 = 50 yen will:
A. make U.S. goods more expensive to the Japanese.
B. make Japanese goods less expensive to Americans.
C. increase U.S. exports and depress Japanese exports.
D. increase Japanese exports and depress U.S. exports.
C. increase U.S. exports and depress Japanese exports.
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Which of the following has been the largest organized group of U.S. unions during the past 50 years?
A) AFL-CIO B) AFL C) CIO D) Change to Win
Under conditions of perfect competition, if any one buyer increases her purchases, the market price
a. rises b. remains unchanged c. falls d. either rises or falls e. will change, but in an unpredictable fashion
A managed float exchange rate system is often used to reduce the uncertainty of businesses engaged in importing and exporting.
a. true b. false
A friend says, "I really, really need a new car." As an economist, you're thinking
A) Right! Everyone needs a new car. B) This is an example of how objectively undefinable needs are. Many would argue that this friend could get along just fine with a reliable used car. C) If this friend says she needs a new car, then we must all agree that a new car is a need and not just a want. D) that a new car can only be considered a need if at least 51% of the public agrees.