1 The appreciation of the local currency means that the local currency, such as RMB, can be exchanged for more US dollars. Therefore, if a foreign country wants to buy products from China, it must first exchange US dollars for RMB, and if RMB is short, it must be exchanged for US dollars. For foreign countries, it means that the price of China products has gone up, the price has gone up, and the demand has dropped. Therefore, domestic exports will decline.

Similarly, RMB can be exchanged for more dollars, which means that the price of foreign products has dropped for China, so the demand for imported foreign products has increased.

2. Full employment. First of all, full employment is not the level of 100% labor employment. This is the * * * knowledge of western academic circles.

But there are two different views. Keynes believed that if "involuntary unemployment" has been eliminated and unemployment is limited to friction unemployment and voluntary unemployment, it is full employment. Other scholars believe that if the total number of vacant positions is exactly equal to the number of people looking for jobs, it is full employment.

In addition, it should be understood that the number of workers refers to those who are able to work and willing to work within a certain age range. Unemployed people refer to people in the labor force who want to work but have not found a job yet. People who voluntarily give up the idea of labor are not counted.