According to the General Equilibrium Approach of Open-Economy Macroeconomic Model,if

question 2

Multiple Choice

According to the general equilibrium approach of open-economy macroeconomic model,if South Korea had a significant technological progress in the past decade,which allowed them to produce more goods at much lower prices than the rest of the world,then we would expect the Korean won to __________.

• A) appreciate
• B) depreciate
• C) stay the same
• D) None of the above is correct, since productivity has nothing to do with exchange rate.

---

Definitions:

Product Class

A broad category of products that serve a similar function or are used in a similar way.

Competitive Institutional

Involves the comparison and contrast of the strategic adaptations and structures of businesses within the same industry or sector.

Visit California

is an organization and marketing campaign aimed at promoting tourism to the state of California.

Lifestyle Attributes

Characteristics defining the way a person or group lives, including habits, attitudes, tastes, moral standards, and economic level, which together influence consumer behavior.