Figure 18-3
displays the international currency market for yen in terms of dollars and dollars in terms of yen. The supply curve in graph (A) is comprised of
a.
U.S. citizens attempting to purchase Japanese-made goods.
b.
Japanese attempting to purchase U.S.-made goods.
c.
U.S. businesses attempting to sell to the Japanese.
d.
Japanese businesses attempting to sell to the U.S.
e.
the U.S. government attempting to unload dollars to the international market.
a
You might also like to view...
Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times. Stan's ideal mixture is to
A) "shoot 1" every time since Kyle is the "odd" player. B) "shoot 2" every time since he is the "even" player. C) "shoot 1" 50% of the time and "shoot 2" 50% of the time. D) Stan's ideal mixture depends on Kyle's ideal mixture.
If Country A exports a good to Country B, who is made worse off?
a. The producers in Country A and the consumers in Country B b. The consumers in Country A and the consumers in Country B c. The producers in Country A and the producers in Country B d. The consumers in Country A and the producers in Country B e. Only the consumers in Country A will be worse off from this trade agreement
Judging from the circular flow diagram, what happens to dollars that households earn as wages?
a. They are given to other households in the form of tax distributions. b. They are given to firms in exchange for capital and labor. c. They are recycled back to firms when households buy products and services. d. They are removed from the simple circular flow diagram, making the circle smaller.
An economy is said to have a comparative advantage in producing a particular good if it:
A) can produce more of all goods than another economy. B) can produce less of all goods than another economy. C) has the highest cost for producing that good. D) has the lowest cost for producing that good.