If the exchange rate of yen for dollars increases from 100 yen = $1 to 110 yen = $1, then:
a. Japanese-produced goods would become more expensive.
b. the dollar has depreciated.
c. the yen has appreciated.
d. U.S.-produced goods would become more expensive.
e. U.S. exports would increase.
d
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The most common type of discount lending that the Fed extends to banks is called
A) seasonal credit. B) secondary credit. C) primary credit. D) installment credit.
Consumers adjust their purchasing behavior so that:
A. marginal rate of substitution is maximized. B. they purchase as many scarce resources as possible. C. marginal rate of substitution is minimized. D. the ratio of prices they pay equals their marginal rate of substitution.
For a monopoly, the marginal revenue from selling an extra unit of output is less than the price of that unit.
Answer the following statement true (T) or false (F)
The law of supply describes the:
A. inverse relationship between income and quantity supplied. B. direct relationship between income and quantity supplied. C. inverse relationship between price and quantity supplied. D. direct relationship between price and quantity supplied.