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Most countries export and import goods, not services

 Most countries export and import goods, not services.

 

32.              Relatively high interest rates in the United States contributes to a strong U.S. dollar (less
                            dollars per another currency) and this may lead to a deficit on the U.S. current account.

33.              Asymmetric information refers to differences in information possessed by parties
                            engaged in trade.

34.              Micromania has recently experienced a slowdown in its labor productivity growth
                            relative to its international trading partners.  Micromania can expect, if this trend
                            continues, the currency of its trading partners to be devalued.

35.              Foreign exchange markets are markets wherein the goods of international trading partners
                            are exchanged.

36.              If a country experiences deflation, its currency will increase in value relative to its trading
                            partners, ceteris paribus.

37.              Contrary to the product market, in the currency market demand is positively sloped
                            reflecting the greater speculative yield potential from high priced currencies.

38.              The development of instantaneous electronic communication and transaction markets has
                            increased the potential for market arbitrage.

Feb 11 2020 View more View Less

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