Refer to the figure below. Assume the market is originally at point W. Movement to point X is the result of: 
A. an increase in supply and an increase in demand.
B. an increase in demand and an increase in quantity supplied.
C. a decrease in supply and an increase in quantity demanded.
D. an increase in supply and an increase in quantity demanded.
Answer: B
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Suppose a U.S. citizen invests $1,000 to purchase a one-year Japanese bond that has an interest yield of 10 percent. If the dollar appreciates 20 percent against the Japanese yen by the maturity date, the dollar value of the proceeds is _____
a. $900 b. $1,100 c. $1,300 d. $1,500 e. $1,200
Which of the following is an example of an externality?
a. Annie purchases a new dress. b. Antonio's dog barks loudly during the night, waking his neighbors. c. Harold sells a book to Cathy, who reads the book and then gives it to James as a gift. d. Gloria watches a scary movie.
One solution to the "Tragedy of the Commons" is to turn the common resource into a private good
a. True b. False Indicate whether the statement is true or false
As the price of good X rises, the demand for good Y falls. Therefore, goods X and Y are
A) substitutes. B) normal goods. C) complements. D) inferior goods. E) none of the above