A change in the dollar value of the British pound from $1.60 to $1.50 represents
A) an increase in the pound price of British goods.
B) an appreciation of the dollar relative to the pound.
C) an appreciation of the pound relative to the dollar.
D) an increase in the dollar price of British goods.
B
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For which of the following would the supply likely be most inelastic?
A) aircraft carrier B) canned soup C) toy airplane D) t-shirt E) bottled water
Net revenue is defined as
A) marginal revenue minus marginal cost. B) total revenue minus marginal cost. C) total revenue minus total cost. D) gross revenue minus depreciation.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.
Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. 
Figure 16.1 Refer to Figure 16.1. The ________ amount of fertilizer is 50 bags.
A. unregulated B. break-even C. equitable D. efficient