If the equilibrium exchange rate between U.S. dollars and Japanese yen is $0.007 = 1 yen, but currently the exchange rate is $0.009 = 1 yen, then with flexible exchange rates the dollar price of a yen will __________, and the yen will __________
A) increase; appreciate
B) decrease; appreciate
C) increase; depreciate
D) decrease; depreciate
D
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Refer to the figure above. Imports for this country equal
A) OA units of Z. B) AB units of Z. C) AC units of Y. D) AD units of Y.
Under what conditions might the median voter's preferred outcome not be selected through majority rule?
What will be an ideal response?
Ceteris paribus, as the price of a good or service increases
A) people will buy more of it. B) people will buy less of it. C) people will want less of it. D) people will want more of it.
A labor union is likely to seek all of the following EXCEPT
A) economic improvements for their members. B) safer working conditions. C) increased competitiveness in the labor market. D) increased job security for its members.