An increase in the dollar price of the Mexican peso (an appreciation of the peso) would cause
a. Mexico's imports to increase and exports to decline.
b. Mexico's exports to increase and imports to decline.
c. both Mexico's imports and exports to decline.
d. both Mexico's imports and exports to rise.
A
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Use the following graph to answer the next question.
It depicts an economy in the ________.
A. current year B. short run C. current month D. long run
Suppose that, at an official ticket price of $480, there are 6,000 Justin Timberlake fans wanting to attend his concert, but only 4,000 ticketed seats are available. Which one of the following statements is then TRUE?
A) There will be scalpers outside the arena selling tickets for $480. B) There will be a surplus of tickets. C) The market clearing price of the tickets is less than $480. D) The market clearing price of the tickets is more than $480.
Refer to Exhibit 1-1. If the student whose study habits are illustrated here is currently studying for the 8th hour, she should
A) cut back on the number of hours she is studying because the marginal benefit of studying for the 8th hour is less than the marginal cost of doing so. B) cut back on the number of hours she is studying because the marginal benefit of studying for the 8th is greater than the marginal cost of doing so. C) increase the number of hours she is studying because the marginal benefit of studying for the 8th hour is less than the marginal cost of doing so. D) increase the number of hours she is studying because the marginal benefit of studying for the 8th hour is greater than the marginal cost of doing so.
Which of the following goods has the property of rivalry?
A) national defense B) a highway C) air to breath D) an outdoor movie screening