TABLE 15.1 Exchange Rates

TABLE 15. 2 Effect of Dollar Appreciation and Depreciation on U. S TABLE 15.2 Effect of Dollar Appreciation and Depreciation on U.S. Exports and Imports

FIGURE 15.1 Balance of Trade and the Exchange Rate

TABLE 15.3 Determinants of Exports and Imports

EQUATION 15.1 - 15.4 Equilibrium in the Open Economy

TABLE 15.4 U.S. Balance of Payments, 2011 (billion $)

TABLE 15.5 Revenue or T-Account for Balance of Payments

TABLE 15.6 Revenue or T-Account for 2011 Balance of Payments (billion $)

TABLE 15.7 T -Account Summary of 2011 Balance of Payments (billion $)

EQUATION 15.5 - 15.6 Revenue or T-Account

TABLE 15.8 Demand for Dollars in Foreign Exchange Market

TABLE 15.9 Supply of Dollars in Foreign Exchange Market

TABLE 15.10 T-Account, Supply of and Demand for Dollars

EQUATION 15.7- 15.8 Deriving the Foreign Exchange Market

EQUATION 15.9-15.10 Deriving the Foreign Exchange Market

TABLE 15.11 T-Account, Supply of and Demand for Dollars

FIGURE 15.2 Foreign Exchange Market-Initial Equilibrium

EQUATION 15.11 Equilibrium in the Foreign Exchange Market

TABLE 15.12 U.S. International Transactions

FIGURE 15.3 Foreign Exchange Market ,Increase in U.S. Income

EQUATION 15.12 Flexible Exchange Rate System

TABLE 15.13 U.S. International Transactions, Increase in U.S. Income

FIGURE 15.4 Federal Reserve Intervention

EQUATION 15.13 Fixed Exchange Rate System

TABLE 15.14 U.S. International Transactions, Federal Reserve Intervention

FIGURE 15. 5 Exchange Rates and Aggregate Expenditure: The U. S FIGURE 15.5 Exchange Rates and Aggregate Expenditure: The U.S. Economy, 1995–2000

FIGURE 15.6 Euro Market

EQUATION 15.14- 15.15 Effects of the Euro in the Macroeconomic Environment

FIGURE 15.7 Illustration of Thailand Financial Crisis

TABLE 15.15 Effects of Exchange Rate Systems