If Japanese tourists visit Yellowstone Park, what is the effect in the foreign exchange market?
a. It will increase demand for Japanese yen.
b. It will decrease demand for Japanese yen.
c. It will increase supply of Japanese yen.
d. It will decrease supply of Japanese yen.
c
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If Al has an absolute advantage over Beth in preparing meals, then:
A. Al can prepare more meals in a given time period than Beth. B. the problem of scarcity applies to Beth but not to Al. C. it takes Al more time to prepare a meal than Beth. D. Al's opportunity cost of preparing a meal is lower than is Beth's.
In 2010, of the following ________ had the highest real GDP per person
A) Japan B) Canada C) the Europe Big 4 countries D) the United States
According to the graph shown, if this economy were to engage in free trade, the good would:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. be imported.
B. be exported.
C. no longer be produced domestically.
D. not be imported or exported and only be produced domestically.
Exiting from a peg is relatively ____ compared with exiting from a common currency, which would be ____.
A) difficult; impossible B) easy; more difficult and costly C) complex; simple D) rare; much more common