Who would benefit if the exchange rate with yen (in U.S. dollars) increased?
a. c and e.
b. Japanese tourists.
c. U.S. consumers.
d. U.S. exporters.
e. Japanese exporters.
a
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If the price elasticity of supply of a good is 2, a 200% increase in the price of the good, will change the quantity supplied by:
A) 50%. B) 100%. C) 200%. D) 400%.
The CPI in Holland is 124, and the CPI in Israel is 186. If absolute purchasing power parity holds then the Euro/Shekel exchange rate should be
A) 0.667. B) 1.5. C) 2.6. D) cannot be determined by the information given.
A competitive industry consists of 100 firms. The short-run marginal cost curve for each firm is given by MC = 200 + .3Q. The demand curve faced by the industry is given as P = 400 - .1Q. How much profit is each firm making if fixed costs are $375 per firm?
What will be an ideal response?
As of 2010, to be in the bottom quintile for income distribution in the United States, a family needed in income no more than
A. $15,000. B. $27,000. C. $23,000. D. $35,000.