If a country's exchange rate rises, what happens to its exports and what happens to its imports?
Its exports fall and its imports rise.
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An example of a barrier to entry is
A) superior technological knowledge. B) high profits. C) product differentiation. D) increasing marginal costs.
MFN status means that a trading partner is getting the best trade deal possible given current national trade policies
Indicate whether the statement is true or false
Two perfectly competitive firms, Firm A and Firm B, both face random demand and have the same expected marginal revenue, as illustrated in the figure below. For which firm would a forecast of demand be more valuable?
A) Firm A
B) Firm B
C) The value for each firm is the same because the high demand, low demand, and expected marginal revenue are the same.
D) A forecast is more valuable for Firm A if the demand will be high and more valuable for Firm B if the demand will be low.
A cost curve drawn with years on the horizontal axis and costs per unit on the vertical axis would be a(n)
a. analytical cost curve. b. long-run cost curve. c. historical cost curve. d. theoretical cost curve.