A balance of payments crisis is best described as
A) a sharp change in interest rates sparked by a change in expectations about the level of imports.
B) a sharp change in foreign reserves sparked by a change in expectations about the future exchange rate.
C) a sharp change in interest rates sparked by a change in expectations about the level of exports.
D) a sharp change in foreign reserves sparked by a change in expectations about the level of imports.
E) a sharp change in foreign reserves sparked by a change in expectations about domestic production.
B
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The cross-price elasticity of demand measures how sensitive purchases of a specific product are to changes in
A. the price of that same product. B. the price of some other product. C. the general price level. D. income.
Marginal social cost is equal to
a. total private cost b. marginal private cost c. marginal external cost d. marginal private cost plus marginal external cost e. marginal private cost divided by marginal external cost
In mid-2009, publicly held debt was approaching ______ and total debt was approaching ______
a. $1 trillion; $12 trillion. b. $3 trillion; $6 trillion. c. $12 trillion; $7 trillion. d. $7 trillion; $12 trillion. e. $12 trillion; $12 trillion.
The top four U.S. multinational corporations are oil companies
Indicate whether the statement is true or false