Final answer:
According to Albert Bandura, Dan has low self-efficacy because he doubts his ability to succeed, focuses on his mistakes, and lacks confidence in his abilities when faced with setbacks.
Step-by-step explanation:
According to Albert Bandura, Dan has low self-efficacy. Self-efficacy is the level of confidence in one's own abilities, and it affects how we approach challenges and reach goals. People with low self-efficacy tend to doubt their ability to be successful, focus on failure and negative outcomes, and lose confidence if they experience setbacks. In Dan's case, his doubts about his ability to succeed in college and his tendency to focus on his mistakes at work are indicators of low self-efficacy.
Additionally, anticipated currency depreciation can lead investors to divest from that currency, further reducing its value. And if foreign investors become less willing to hold a country's assets, it can trigger a demand decrease for that currency and a rapid devaluation, which could exacerbate trade deficits or even cause a speculative attack as seen in historical currency crises.
Therefore, countries may devalue their currencies intentionally to improve trade balances, but they must carefully consider the potential for negative economic impacts, such as possible increased consumption costs and the risk of inflation.