Americans buying Japanese cars:
A. supply U.S. dollars and demand Japanese yen.
B. demand U.S. dollars and demand Japanese yen.
C. supply both U.S. dollars and Japanese yen.
D. demand U.S. dollars and supply Japanese yen.
Answer: A
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Indicate whether the statement is true or false
An increase in the price of good X causes the demand curve for good Y to shift to the left. We know then that
a. X and Y are complementary goods b. X and Y are substitute goods c. X and Y are inferior goods d. X is a normal good and Y is an inferior good e. X is an inferior good and Y is a normal good
By raising the legal reserve requirement, the Fed
a. increases the money supply b. decreases the discount rate c. buys bonds through open market operations d. seeks to influence fiscal policy e. restricts banks' abilities to make loans
Figure 3-20
Refer to . If 40 units of the good are being bought and sold, then
a.
cost to sellers is equal to the value to buyers.
b.
the value to buyers is greater than the cost to sellers.
c.
the cost to sellers is greater than the value to buyers.
d.
producer surplus would be greater than consumer surplus.