In early 2017, according to the Wall Street Journal President Donald Trump said: "the U.S. dollar 'is getting too strong' and he would prefer the Federal Reserve keep interest rates low." The article also quoted the president as saying: "It's very,very hard to compete when you have a strong dollar…” What did President Trump mean by a "strong dollar"? Select one: a. This occurs when U.S. prices in dollars are higher than prices in foreign currencies. b. A "strong dollar" is when it takes more units of a foreign currency to buy a dollar. c. This would mean that the value of a dollar in terms of foreign currencies is stable. d. A "strong dollar" means that other currencies can be traded for more dollars.
In early 2017, according to the Wall Street Journal President Donald Trump said: "the U.S. dollar 'is getting too strong' and he would prefer the Federal Reserve keep interest rates low." The article also quoted the president as saying: "It's very,very hard to compete when you have a strong dollar…” What did President Trump mean by a "strong dollar"? Select one: a. This occurs when U.S. prices in dollars are higher than prices in foreign currencies. b. A "strong dollar" is when it takes more units of a foreign currency to buy a dollar. c. This would mean that the value of a dollar in terms of foreign currencies is stable. d. A "strong dollar" means that other currencies can be traded for more dollars.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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58)In early 2017, according to the Wall Street Journal President Donald Trump said: "the U.S. dollar 'is getting too strong' and he would prefer the Federal Reserve keep interest rates low." The article also quoted the president as saying: "It's very,very hard to compete when you have a strong dollar…” What did President Trump mean by a "strong dollar"?
Select one:
a. This occurs when U.S. prices in dollars are higher than prices in foreign currencies.
b. A "strong dollar" is when it takes more units of a foreign currency to buy a dollar.
c. This would mean that the value of a dollar in terms of foreign currencies is stable.
d. A "strong dollar" means that other currencies can be traded for more dollars.
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