In the foreign exchange market, a balance of payments deficit is represented by:
A) excess supply of dollars.
B) excess demand for dollars.
C) equilibrium in the foreign exchange market.
D) none of the above.
A
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The Fed conducts an open market purchase of securities of $5,000. If the currency drain ratio is 0 percent and the desired reserve ratio is 10 percent, then the total increase in the quantity of money is
A) $4,000. B) $5,000. C) $20,000. D) $50,000. E) $10,000.
Which of the following statements is true?
A) Oil is classified as part of the resource category land. B) A person working for a company is classified as part of the resource category capital. C) A machine in a factory is classified as part of the resource category land. D) A person with the particular talent for organizing the resources of land, labor, and capital to produce goods, seek new business opportunities, and develop new ways of doing things is classified as part of the resource category labor. E) a and d
Substitution effect
What will be an ideal response?
For a monopoly, the marginal revenue curve ________ its demand curve.
A. is the same as B. is below C. is above D. has no relation to