Countries with balance of payments deficits do not want to see their currencies ________ because it makes foreign goods ________ expensive for domestic consumers
A) appreciate; less
B) appreciate; more
C) depreciate; less
D) depreciate; more
D
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A market consequence of a price floor program is that:
a. a shortage of the product will develop. b. producers will stop supplying the product. c. some rationing device must then be instituted. d. a surplus of the product will develop. e. there will be an excess demand for the product.
What do sellers do if they expect the price of goods they have for sale to increase dramatically in the near future?
What will be an ideal response?
Suppose an economy's entire output is cars. In Year 1, all manufacturers produce cars at $15,000 each; the real GDP is $300,000. In Year 2, 20 cars are produced at $16,000 each. What is the real GDP in Year 2?
(A) $280,000 (B) $20,000 (C) $320,000 (D) $300,000
When the demand for blue jeans increases, what happens next?
What will be an ideal response?