Other Things the Same,if the Exchange Rate Changes from 6

question 21

Multiple Choice

Other things the same,if the exchange rate changes from 6 Chinese yuan per dollar to 7 Chinese yuan per dollar,then the dollar

• A)appreciates and buys more Chinese goods.
• B)appreciates and buys fewer Chinese goods.
• C)depreciates and buys more Chinese goods.
• D)depreciates and buys fewer Chinese goods.

---

Definitions:

Shortages Worldwide

A global situation where the demand for various goods or services exceeds the available supply, leading to scarcity.

Proved Reserves

Quantities of natural resources, like oil or gas, that are confirmed by analysis to be recoverable under current technological and economic conditions.

Natural Resources

Assets occurring in nature, such as minerals, forests, water, and fertile land, that can be used for economic gain.

Relative Price

The price of a good or service in comparison to the price of other goods and services.