If the price in Japan of a U.S. dollar becomes a larger number of yen, the U.S. dollar has ________. The yen has ________ because it buys ________ dollars
A) depreciated; appreciated; more
B) appreciated; depreciated; more
C) appreciated; appreciated; fewer
D) appreciated; depreciated; fewer
E) appreciated; appreciated; more
D
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Which of the following is true of a payoff matrix?
A) It is the representation of only the best response of each player. B) It takes into account all relevant costs and benefits associated with each action of the players. C) It shows the payment made to each factor of production for the production of a good. D) It does not represent all the costs and benefits associated with the choices of the players.
Governments and legislatures can erect barriers to entry. Which of the following would NOT be one of them?
A) licenses B) tariffs C) Patentsp D) laws that ensure property rights
A quota is
A) a government-imposed restriction on the quantity of a specific good that can be imported into a country. B) a tariff imposed on goods that are dumped into the home country. C) a tariff imposed on goods that are subsidized by their domestic governments and exported to other countries. D) a tariff based on the value of the imported good.
A government payment to producers for the difference between a target price and the price at which producers were able to sell their goods is known as a: a. subsidy
b. deficiency payment. c. producer surplus. d. price support.