Refer to the above figure. Suppose E is the original equilibrium. An increase in the demand for dollars will be reflected in this figure by
A) an increase in the demand for yen as both imports and exports increase.
B) a decrease in the demand for yen as the U.S. balance of payments improves.
C) an increase in the supply of yen as Japan tries to buy more U.S. goods.
D) a decrease in the supply of yen as Japan is able to pay less for U.S. goods.
C
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Give an example of an industry that would seek intellectual property rights protection because its product incorporates innovation and research
What will be an ideal response?
Theory B predicts that everything that happens, happens for a reason - although we may not know what the reason is. This theory
A) can be refuted. B) probably cannot be refuted. C) is a good explanation for what happens. D) is the kind of theory that scientists like to build because it can explain so much.
The time period during at least one input cannot be changed is the
A) production time. B) calendar year. C) long run. D) short run.
Which of the following statements about concentration ratios is correct?
A) A high concentration ratio indicates that the industry is a monopoly. B) A high concentration ratio indicates that the industry is monopolistically competitive. C) A high concentration ratio suggests that the industry is characterized by strategic independence. D) A high concentration ratio suggests that the industry is characterized by strategic dependence.