What explains the appreciation of the Japanese yen relative to the U.S. dollar from 1970 to the early 1990s?
A) High tariffs and restrictive quotas in the United States caused the value of the dollar to decline.
B) Japanese productivity rose faster than U.S. productivity.
C) U.S. consumers reduced their preferences for Japanese goods.
D) Japanese inflation rose faster than U.S. inflation.
B
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If the graph shown represents Donna's budget constraint, and the price of earrings were to decrease, the slope of Donna's budget constraint would become:
A. steeper, reflecting the fact that hairbands are now relatively less expensive.
B. flatter, reflecting the fact that hairbands are now relatively more expensive.
C. steeper, reflecting the fact that earrings are now relatively less expensive.
D. flatter, reflecting the fact that earrings are now relatively more expensive.
When a resource is an open-access resource,
a. each individual in the society owns it b. the group owns it c. no one owns it d. the government owns it e. some nonprofit agency owns it
A bubble happens when:
A. asset prices rise for a long time, even during a recession. B. asset prices rise higher and faster than can be explained by the fundamentals. C. asset prices rise faster than can be tracked with traditional statistical tools. D. asset prices rise higher than experts have predicted they would.
Refer to the information provided in Figure 13.2 below to answer the question(s) that follow. 
Figure 13.2 Refer to Figure 13.2. This firm's marginal revenue will be positive at
A. prices below $5. B. prices above $5. C. all prices. D. prices between $4 and $8.