The summer demand for hotel accommodation in London comes mainly from foreign tourists. Demand for hotel rooms in London in summer could be reduced by a fall in the price or value of which of the following?
1 US dollars
2 Aeroplane tickets
3 Sterling
Rationale： A fall in the price of sterling would make London hotels cheaper for foreign tourists. A fall in the price of aeroplane tickets would make London cheaper to visit for foreign tourists.Events 2 and 3 would lead to a rise in demand for hotel rooms. In contrast, a fall in the value of the US dollar would make the UK more expensive to visit for US tourists and tourists from other countries where the US dollar is widely used, and demand for hotel rooms in London would fall.
多做几道
Monetary policy is a government economic policy relating to:
1 Interest rates
2 Taxation
3 Public borrowing and spending
4 Exchange rates
Which of the above are correct?
Which of the following organisations might benefit from a period of high price inflation?
Which of the following are the goals of macroeconomic policy?
1 Encouraging economic growth
2 Low unemployment
3 Achievement of a balance between exports and imports
4 Achieving zero inflation
Which of the following is an example of cyclical unemployment?
A surplus on the balance of payments usually refers to a surplus or deficit on the account.Which word correctly complete this statement?
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