Exchange rates affect:
I. international trade flows.
II. international investment flows.
III. corporate earnings.
a. I
b. II and III
c. I and II
d. I, II, and III
Ans: d. I, II, and III
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a. a positive supply shock b. an increase in inflationary expectations c. an negative supply shock d. either (a) or (c)
Profit maximization occurs at the quantity where marginal cost equals marginal revenue
a. True b. False
In game theory, actions such as cheating that focus solely on short-run gains are referred to as
A) territorial behavior. B) tit-for-tat strategic behavior. C) predatory behavior. D) opportunistic behavior.
If the interest rate is 12%, the current market value of $1 to be delivered in one year is
A. $0.89. B. $0.95. C. $1.00. D. $1.15.