Economics USA: 21st Century Edition
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To show the effect of exchange rates on trade and domestic growth and inflation, and the effect of domestic economic events on foreign exchange rates.
Principal Economist for the U.S. Treasury, 1940–1946, during which time he also served as Assistant Director of the Monetary Research Division and Assistant to the Secretary of the U.S. Treasury Department.
See full bioUnder Secretary of State for Foreign and Agricultural Affairs, under President Bill Clinton, and United States Ambassador to the United Nations Economic and Social Council, 1980–1981.
See full bioProfessor of Business Administration and Public Policy at the University of Michigan since 1992, and Senior Staff Economist to the Council of Economic Advisers, 1970–1971.
See full bioUse this web-based calculator to aid in your studies.
All of the following factors contributed significantly to the chronic deficit in our balance of payments during the 1960s and 1970s EXCEPT:
increased foreign demand for American exports.
NEXT QUESTIONIf the exchange rate of dollars to francs is $0.14, then the exchange rate of francs to dollars is:
7:1
NEXT QUESTIONSuppose that a number of French consumers decide to purchase shares of stock on the New York Stock Exchange. In that case, the exchange rate (in terms of dollars to the franc) will:
fall because of greater supply.
NEXT QUESTIONThis diagram shows that under fixed exchange rates, Germany has a:
balance of payments deficit and its currency is overvalued.
NEXT QUESTIONThe MAIN reason that President Roosevelt went off the gold standard was that:
he believed that a devalued dollar might rekindle a failing economy.
NEXT QUESTIONThe MAIN criticism most economists of today would probably make of the Bretton Woods agreement is that it:
was inherently inflexible, and thus not adaptable to changing economic conditions.
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