The U.S. dollar has depreciated relative to the Japanese yen if it takes
A) fewer yen to buy a dollar.
B) more yen to buy a dollar.
C) more dollars to buy a yen.
D) fewer dollars to buy a yen.
E) a and c
E
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If Good Tissue sells its toilet paper only in packages of six rolls, this is an example of ________.
A) two-part pricing B) commodity bundling C) an all-or-nothing offer D) linear pricing
The first law of demand states that
a. the quantity demanded increases as price falls b. the quantity demanded decreases as price falls c. the quantity demanded increases as price increases d. none of the above
The short run sequence of events following an unanticipated shift to a more restrictive monetary policy would be
a. lower interest rates, decrease in aggregate demand, and a reduction in output. b. lower interest rates, increase in aggregate demand, and an expansion in output. c. higher interest rates, decrease in aggregate demand, and a reduction in output. d. higher interest rates, increase in aggregate demand, and an expansion in output.
To answer the next question, use the following graph showing the domestic demand and supply curves for a specific standardized product in a particular nation.
If the world price of this product is $1, this nation will
A. export all of the product. B. import all of the product. C. import some of the product and produce some of the product domestically. D. neither export nor import the product.