Foreign Exporters Are Usually Quite Willing to Accept U

question 123

Multiple Choice

Foreign exporters are usually quite willing to accept U.S.dollars in payment for goods and services because:

• A)of the importance of the dollar in international trade
• B)the value of the dollar does not fluctuate
• C)they have little alternative
• D)it is customary to receive payment denominated in the currency of the importer's country

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Definitions:

Scarce Resources

Fundamental economic problem of having seemingly unlimited human wants in a world of limited resources, leading to the necessity of allocation decisions.

Individual

A single human being apart from a society or community, often considered as an independent entity in economic theories.

Unskilled Labor

Labor that requires no specialized skills, education, or training, and typically involves simple tasks that can be easily learned on the job.

Market Wage

The prevailing rate of pay for labor in a particular industry or occupation, determined by the supply and demand for labor in that market.