If Japanese autos surge in popularity in the United States, then this event is most likely to cause the Japanese yen to:
A. Appreciate and the U.S. dollar to depreciate
B. Depreciate and the U.S. dollar to appreciate
C. Appreciate and the U.S. dollar to appreciate
D. Depreciate and the U.S. dollar to depreciate
A. Appreciate and the U.S. dollar to depreciate
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The rate of unemployment when the economy is fully employed is called the
A. full-employment rate of unemployment. B. natural rate of unemployment. C. frictional rate of unemployment. D. structural rate of unemployment.
The figure above shows the market for private elementary school education in Chicago. There is no external cost of private elementary education. If the government does not intervene in this market, the equilibrium price of private education is
A) $12,000. B) $16,000. C) $20,000. D) $4,000. E) $6,000.
In a world lacking property rights, it would be ________ to realize the gains from trade and there would be ________ specialization
A) easier; less B) easier; more C) harder; less D) harder; more
An increase in the price of good X due to a reduction in its supply will: a. increase the total revenue of good X
b. decrease the total revenue of good X. c. increase the total revenue of goods that are substitutes for X. d. increase the total revenue of goods that are complements for X.