As the Value of Australian Exports ________, the Quantity of ________

question 43

Multiple Choice

As the value of Australian exports ________, the quantity of ________ demanded increases.

• A)increases; Australian dollars
• B)decreases; Australian dollars
• C)increases; foreign currencies
• D)None of the above is correct because the value of Australian exports has nothing to do with the quantity of dollars or foreign currency.

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Definitions:

Ideal

A concept or standard of perfection or excellence that serves as a benchmark or goal.

Price Takers

Entities in a market that accept prevailing prices for goods or services, lacking the market power to influence prices on their own.

Market

An abstract concept encompassing the forces of demand and supply and the interaction of buyers and sellers with the potential for exchange to occur.

Business

The organized activities and operations of individuals or entities to produce and sell goods and services for profit.