If the exchange rate between the U.S. dollar and Japanese yen changes from $1 = 100 yen to $1 = 90 yen, then
A. Japanese tourists visiting the United States will benefit.
B. U.S. auto producers and autoworkers will lose.
C. All Japanese producers and consumers will lose.
D. U.S. consumers of Japanese TV sets will benefit.
Answer: A
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Which statement best describes the two issues economists face when comparing the GDP of different nations?
a. The two issues economists face when comparing the GDP of different nations are natural resources and population. b. The two issues economists face when comparing the GDP of different nations are natural resources and tax codes. c. The two issues economists face when comparing the GDP of different nations are currency and natural resources. d. The two issues economists face when comparing the GDP of different nations are currency and population.
An efficient tax system is one that (i) maximizes tax revenues. (ii) minimizes deadweight losses from taxes. (iii) minimizes administrative burdens from taxes. (iv) promotes equity across taxpayers
a. (i) only b. (ii) and (iii) only c. (i), (ii), and (iii) only d. (i), (ii), (iii), and (iv)
Consider to the accompanying payoff matrix. 
If player A makes his or her choice before player B, then what will be the equilibrium outcome of this game?
A. Player A and player B both get 60. B. Player A gets 5 and player B gets 70. C. Player A gets 70 and player B gets 5. D. Player A and player B both get 50.
Real economic growth during the first two years of President George W. Bush's second term was
A. higher than real economic growth during the first two years of President Bill Clinton's second term. B. approximately 8.7% per year. C. negative because of the 2001 recession. D. approximately 3.2% per year.