A strong U.S. currency aids the balance of payments because it deters U.S. citizens from going abroad to spend their money.

Name: A strong U.S. currency aids the balance of payments because it deters U.S. citizens from going abroad to spend their money.
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Question

Quizplus · Accepted Answer

A strong U.S. currency makes foreign goods and travel cheaper for U.S. citizens, potentially increasing their spending abroad, which can negatively impact the balance of payments.

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