If the dollar depreciates relative to other currencies, which of the following is true?
A. It takes more foreign currency to buy a dollar.
B. It takes more dollars to buy a foreign currency.
C. U.S. exports will decrease.
D. Foreign purchases of U.S. goods will decrease.
Answer: B
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Refer to Figure 2-18. Which two arrows in the diagram depict the following transaction: Dorian Gray hires "Wild Oscar," a professional portrait artist, to paint his picture
A) J and M B) K and G C) K and M D) J and G
Anti-globalization and protectionism are both arguments against free trade. How do these two arguments differ?
What will be an ideal response?
According to the rule of 70, if a country grows at an average rate of 2 percent per year, what would happen after 35 years?
A. The country's real GDP per capita would double. B. The country's nominal GDP would double. C. The country's real GDP would double. D. The country's nominal GDP per capita would double.
The Austrian school of economists stressed on the efficiency of the markets on the pretext that:
a. resources could be efficiently allocated through price system and free markets. b. governmental intervention was necessary for the efficient allocation of resources. c. the price charged under the free market system was always lower than under central planning. d. the market had never failed earlier. e. the market did not suffer from imperfect information.