All Else Being Equal, If Asian Restaurants Switch from Serving

question 25

Multiple Choice

All else being equal, if Asian restaurants switch from serving French champagne to serving California wines, then the market equilibrium value of the exchange rate for the U.S. dollar will:

• A)rise.
• B)fall.
• C)become fixed.
• D)either rise or fall depending on whether the supply or demand for dollars changes more.

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Definitions:

Model Minority

A demographic group perceived as achieving a higher degree of socioeconomic success than the population average, often applied in the context of some Asian American communities.

Asian-Americans

Americans of Asian descent who have contributed significantly to the cultural, social, and economic fabric of the United States.

Christian Coalition

A conservative Christian political advocacy group in the United States, focused on fostering Christian values in American politics.

Republican Party

One of the two major contemporary political parties in the United States, traditionally supporting policies of free market capitalism, fiscal conservatism, and limited government intervention.