After the United States dropped an atomic bomb on Japan, what do you expect happened to the yen?
a. The yen appreciated.
b. The yen was unaffected.
c. The yen depreciated.
d. There is no way to predict the effect on the yen.
Ans: c. The yen depreciated.
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In June 2008, $1 bought 0.5 pounds and in October, $1 bought 0.65 pounds. As a result of this change, ________ between June and October
A) the demand for dollars increased B) the dollar appreciated and the quantity of dollars demanded decreased C) the dollar depreciated and the quantity of dollars demanded decreased D) the demand for dollars decreased
Which is NOT an example of signaling high quality in a social setting
a. wearing a business suit on a job interview b. scrimping on the tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
During 1980-2010, the per-capita incomes of less-developed countries (LDCs)
a. grew rapidly. b. declined. c. were virtually unchanged. d. registered a mixed growth record; some grew rapidly while others stagnated.
In the long run, the representative firm in monopolistic competition tends to have:
A. Excess capacity B. Economic profits C. No product differentiation D. A perfectly elastic demand curve