If Japanese tourists visit Yellowstone Park, what is the effect in the foreign-exchange market?
A. It will increase demand for Japanese yen.
B. It will decrease demand for Japanese yen.
C. It will increase supply of Japanese yen.
D. It will decrease supply of Japanese yen.
Answer: C
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Which one of the following would cause a rightward shift in the demand curve of digital cameras?
A) Digital cameras become easier to use. B) The price of digital cameras decreases. C) Production methods are modified to make production of digital cameras more efficient. D) Government regulations are imposed to limit the number of digital cameras imported.
In the short run, a perfectly competitive firm may earn economic profits that are
a. positive. b. positive but very small. c. negative. d. all of the above.
If a market is contestable, then
A. long-run economic profits are minimal due to inefficiency. B. long-run economic profits are zero. C. short-run and long-run economic profits are zero. D. positive economic profits are maximized due to the efficient production spurred by the threat of entry.
How does simultaneous consumption affect economies of scale?
What will be an ideal response?