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2 cards from this section. Quick, good the night before a test.
What is an exchange rate?
Think about how we trade money internationally.
What happens when a currency appreciates?
Consider what this means for buying imports.
What type of exchange rate is determined by market forces?
Remember the definition of both exchange rates.
True or False: A strong currency always benefits a country's exports.
Consider how pricing affects demand.
A country has a fixed exchange rate system but sees a consistent deficit in its current account. Discuss the potential implications of this scenario.
Think about long-term effects on foreign reserves.
Analyze how a sudden depreciation of a national currency affects local industries that depend on imported raw materials.
Consider the ripple effects on final product pricing.
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