If prices rise in the United States, everything else constant, the dollar __________ against the yen and the yen __________ against the dollar
A) appreciates; appreciates
B) appreciates; depreciates
C) depreciates; appreciates
D) depreciates; depreciates
C
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Amy has the total utility values given above for DVD rentals a week. Complete the table by calculating her marginal utilities
What will be an ideal response?
Refer to Table 10-3. The table above shows Lee's marginal utility per dollar from consuming ice cream cones and cans of Lime Fizz Soda. The price of an ice cream cone is $2 and the price of Lime Fizz Soda is $1
Use this information to select the correct statement. A) If Lee has an unlimited budget he will maximize his utility by buying only Lime Fizz Soda. B) We cannot determine how many ice cream cones and cans of Lime Fizz Soda Lee will consume without knowing what his income is. C) To maximize his utility Lee should consume 1 ice cream cone and 5 cans of Lime Fizz Soda. D) We cannot determine how many ice cream cones and cans of Lime Fizz Soda will maximize Lee's utility because we are given only the marginal utility per dollar values. We also need to know the marginal utility for each quantity.
According to the graph shown, if the supply increases, then
A. consumer surplus would increase.
B. consumer surplus would decrease.
C. total surplus would increase.
D. quantity would increase.
Econometrics is the use of statistics to quantify and test economic models
Indicate whether the statement is true or false