The price of one currency in terms off another currency is called
A) foreign reserves.
B) the foreign exchange rate.
C) the foreign trade deficit.
D) the balance of payments.
B
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Which of the following would not be considered a private good?
a. a pair of scissors b. a pair of shoes c. an SUV d. cable TV service
Refer to the graph below. Assume the consumer has an income of $100, the price of X is $2 and the price of Y is $1. According to the graph, the substitution effect of a decrease in the price of X from $2 to $1 is equal to: 
A. 5 B. 20 C. 30 D. 25
The conceptual measure of the satisfaction a person obtains by consuming all the units of a good or service during a given time period is:
a. total product. b. total revenue. c. total utility. d. total product.
If a consumer is spending all of his/her income in a manner where MUa / Pa = MUb / Pb, then the consumer:
a. should increase the consumption of A and decrease the consumption of B. b. is maximizing his/her utility. c. should increase the consumption of B and decrease the consumption of A. d. should increase the consumption of both A and B. e. should decrease the purchases of both A and B.