February 2016
Intermediate to advanced
504 pages
20h 37m
English
Content preview from Economics, 11th Edition
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CHAPTER 17International Finance
Chapter 16 focused primarily on the exporting and importing of goods and services. But many other types of international transactions are important to an economy: the buying and selling of foreign stocks, bonds, and other assets; foreign assistance; and private gifts to foreigners.
Most international transactions involve payment flows between countries, making it necessary to have a mechanism for determining the values of foreign currencies and for exchanging domestic money for foreign money. The value of an economy's currency in foreign exchange markets is especially important because it affects the prices of the country's exports, imports, and foreign investments. The value of the dollar in relation to the yen, euro, and other foreign currencies is so important to U.S. international transactions and to the economy that it is quoted daily in many news broadcasts, in most major newspapers, and is easily found on the Internet.
The first part of this chapter deals with exchange rates between countries' currencies, how exchange ...
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