Suppose the real exchange rate of 105 Japanese yen to the dollar changes to 115 yen to the dollar. In this situation, the dollar has _________________, making Japanese goods __________ expensive for Americans
A) appreciated; less
B) appreciated; more
C) depreciated; less
D) depreciated; more
A
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Land in the South can often be used to grow either tobacco or cotton. Suppose the price of tobacco increases. Explain how the market for cotton will be affected
What will be an ideal response?
The U.S. national debt at the end of fiscal year 2014 was almost
a. $13.5 trillion. b. $9.0 trillion. c. $18 trillion. d. $1.3 trillion.
Changes in market rents are mainly determined by changes in
A. the demand for the fixed factors. B. the elasticity of supply. C. the supply of fixed factors. D. the intensity of production on the land.
Table 9.2 represents 3 markets for used guitars. Which of the markets in Table 14.2 are in equilibrium?
A. 1 only B. 2 only C. 3 only D. 2 and 3