Forward and spot exchange rates
A) are necessarily equal.
B) do not move closely together.
C) are always such that the forward exchange rate is higher.
D) move closely together and are equal on the value date.
E) are unrelated to the value date.
D
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Refer to the figure above. What is the consumer surplus after Lithasia opens up to free trade?
A) $1 B) $12 C) $15 D) $32
The "law" of diminishing returns
a. is deduced from the basic biochemical relationship of agricultural theory. b. was constructed as the basis of observation during experiments on the impact of fertilizer on output in the 1930s. c. is based on regular observations of input-output relationships over the last two centuries. d. is borrowed from physical laws related to conversion of matter and energy.
Changes in one variable on a graph might be caused by the other variable on the graph or by a third omitted variable
a. True b. False Indicate whether the statement is true or false
Refer to the figure below. If Jess chooses A, then Cory's best response is: 
A. to choose A. B. to choose B. C. to choose the cell in which Cory's payoff is 10. D. non-existent.