Which of the following would generate a supply of euros in exchange for dollars?
a. American demand for European real estate.
b. European demand for U.S. government bonds.
c. Americans vacationing in Europe.
d. Purchase of French wines by U.S. importers.
B
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The supply curve for a good can be thought of as
A. a graphical display of “market potential.” B. a graphical representation of the data in a supply schedule. C. showing the maximum quantities that firms are able to produce. D. a forecasting tool. E. All of these responses are correct.
Defining global poverty in the context of American standards would classify most people in the developing world as poor
Indicate whether the statement is true or false
Assume that a consumer purchases a combination of products X and Y and MUx / Px = 75 utils per dollar and MUy / Py = 50 utils per dollar. To maximize utility without spending more dollars, the consumer should buy:
a. more of both X and Y. b. less of Y only if the price of Y increases. c. more of Y and less of X. d. more of X and less of Y. e. less of both X and Y.
If a firm produces nothing, which of the following costs will be zero?
a. total cost b. fixed cost c. opportunity cost d. variable cost