Refer to the graph below. If more people in the United States decide to purchase Japanese cars, what effect will this have on the market for yen?
Assume that Japan and the United States are engaged in a system of flexible exchange rates.
A. The price of yen will increase
B. The price of yen will decrease
C. The supply of yen will increase
D. The supply of yen will decrease
A. The price of yen will increase
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Ford Motor Company was one of the first major companies to adopt a wage structure that is comparable to efficiency wages. What was the outcome of Ford's experiment with efficiency wages?
A) Lower labor force turnover B) Higher labor productivity C) Less absenteeism D) all of the above
Country A had a population of 1,000, of whom 600 worked an average of 8 hours a day and had a productivity of 2.5 . Country B had a population of 800, of whom 560 worked 8 hours a day and had productivity of 3.0 . Country
a. A had the higher level of real GDP and real GDP per person. b. A had the higher level of real GDP and Country B had the higher level of real GDP per person c. B had the higher level of real GDP and Country A had the higher level of real GDP per person d. B had the higher level of real GDP and real GDP per person.
The market for oil-change can be described as a market in which monopolistic competition prevails. This means that collusion among garages that change oil is ____________ and firms engage in _________ behavior.
a. common; cooperative b. common; uncooperative c. rare; uncooperative d. rare; cooperative
Any improvement in overall production technology that permits more output to be produced with the same level of inputs causes
A) a movement up the supply curve resulting in both a higher equilibrium price and quantity. B) a rightward shift of the supply curve so that more is offered at each price. C) no movement of the supply curve, but a fall in price and a decrease in quantity supplied. D) a leftward shift of the supply curve so that less is offered for sale at each price.