Answer: By devaluating the bolivar, the president of Venezuela has increased the number of bolivars needed to buy one dollar . Explanation: Devaluation is a form of currency reform that involves writing down the value of a currency with a fixed exchange rate.
What has the president of Venezuela done by devaluating the bolivar O allowed the exchange rate to be set by supply and demand artificially increased the number of bolivars needed to buy one US dollar artificially decreased the number of bolivars needed to buy one US dollar allowed?
By devaluating the bolivar, the president of Venezuela has: followed the law of supply and demand . allowed the exchange rate to remain unchanged. increased the number of bolivars needed to buy one dollar.
What has the president of Venezuela done by devaluating the bolivar allowed the exchange?
Answer: By devaluating the bolivar, the president of Venezuela has increased the number of bolivars needed to buy one dollar . Explanation: Devaluation is a form of currency reform that involves writing down the value of a currency with a fixed exchange rate.
What is the most likely conclusion that can be drawn about how this table would look?
What is the most likely conclusion that can be drawn about how this table would look in December 2013? It would look different because exchange rate tables change constantly .
What is an example of a country that makes use of another nations currency?
Examples of countries that make use of another country’s currency are parts of Latin America , regions like Ecuador and El Salvador, which recognize and accept the U.S. dollar for the exchange of goods and services.
Who decides which currency each country in the world uses?
Answer Expert Verified. The government of each country decides what they want to use.
What is the expected effect of devaluation among Venezuela population?
The expected effect of the devaluation among Venezuela’s population is Rising Inflation . Devaluation causes the decline of the value of a country’s currency, which favors exports and disfavors imports.
How many bolivars is $1?
| USD VEF | 1 USD 409,565,000,000 VEF | 5 USD 2,047,820,000,000 VEF | 10 USD 4,095,650,000,000 VEF | 25 USD 10,239,100,000,000 VEF |
|---|
How much is a Coke in Venezuela?
| Restaurants Edit | Coke/Pepsi (12 oz small bottle) 1.27$ | Water (12 oz small bottle) 0.85$ | Markets Edit | Milk (regular), (1 gallon) 6.14$ |
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Which is the least expensive currency?
The Iranian Rial is the least valued currency in the world. It is the lowest currency to USD. For the simplification of calculations, Iranians regularly use the term ‘Toman’.
Which statement best describes how globalization is affecting the world?
The correct answer is letter B: The world is becoming more globalized and connected . Due to modern means of communication and transportation, the world is unified. Some researchers believe that globalization is a natural process by which technology advances.
What is the benefit in reaching the absolute advantage in the production of one good?
The benefit of reaching the absolute advantage in the production of one good is the ability to specialize in producing that good, thus utilizing a country’s’ resources efficiently .
How has globalization made countries more interdependent quizlet?
How has globalization made countries more interdependent? ... – Countries now rely on one another for chances to import . – Countries rely on each other for cheaper products. – One way to measure economic growth is by using GDP, which stands for Countries now rely on one another for chances to export.
Which situation might cause a country to specialize?
Answer: Environmental conditions, inner-social conditions, and trade conditions . A country cannot choose to be where the oil is at, or if rice can grow there, so they will specialize in what they can get to grow there, much like most Middle Eastern countries and oil.
What steps must countries take to transition?
They must establish a fair labor market . They must discourage foreign investment. They must open up trade to other countries. They must establish a fair labor market.
What kind of advantage does a country have if it can make a product more efficiently?
Absolute advantage refers to the ability of a country to produce a good more efficiently than other countries. In other words, a country that has an absolute advantage can produce a good with lower marginal cost (fewer materials, cheaper materials, in less time, with fewer workers, with cheaper workers, etc.).
