Under a System of Floating Exchange Rates, Relatively Low Productivity

question 123

Multiple Choice

Under a system of floating exchange rates, relatively low productivity and high inflation rates in the United States result in

• A) an increase in the demand for foreign currency, a decrease in the supply of foreign currency, and a depreciation in the dollar.
• B) an increase in the demand for foreign currency, an increase in the supply of foreign currency, and an appreciation in the dollar.
• C) a decrease in the demand for foreign currency, a decrease in the supply of foreign currency, and a depreciation in the dollar.
• D) a decrease in the demand for foreign currency, an increase in the supply of foreign currency, and an appreciation in the dollar.

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Definitions:

Marginal Cost

The increased cost resulting from the production of an extra unit of a product or service.

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.

Demand Curves

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.