Suppose the exchange rate is initially set at 100 yen per dollar and increases to 125 yen per dollar. This would be expected to cause the price of U.S. goods in the Japanese economy to
A. increase.
B. change in a manner that cannot be determined without additional information.
C. remain the same since domestic demand remains the same.
D. decrease.
A. increase.
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By current U.S. law, anyone generating, storing, or transporting hazardous waste must pay to clean it up if it leaks or is otherwise discharged into the environment. This law has been in effect
a. since World War II b. since 1960 c. since 1970 d. since 1980 e. only since 1990
Successive monopolies face the problem of:
a. double marginalization. b. volumetric interdependence. c. opportunism. d. predatory pricing.
A restaurant hires cooks and waiters. Cooks earn $10 an hour; waiters earn $5 an hour. The manager, who wants to maximize the number of meals served given a fixed payroll of $45 per hour, expects the following from cooks and waiters: 
Given the above information, at the optimal choice, the last dollar spent on hiring waiters yielded
A. 16 additional meals. B. 6 additional meals. C. 60 additional meals. D. 80 additional meals. E. none of the above
The supply of product X is perfectly inelastic if the price of X rises by:
A. 5 percent and quantity supplied rises by 7 percent. B. 8 percent and quantity supplied rises by 8 percent. C. 10 percent and quantity supplied stays the same. D. 7 percent and quantity supplied rises by 5 percent.