If the Japanese yen appreciates relative to the Swedish krona, then the krona:
A. will be more expensive to the Japanese.
B. may either appreciate or depreciate relative to the yen.
C. will appreciate relative to the yen.
D. will depreciate relative to the yen.
D. will depreciate relative to the yen.
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Under the rational expectations hypothesis, if wages adjust rapidly to new information about intended policy actions, the only time that changes in government policies have real effects is when
A) the changes are unanticipated. B) the changes involve monetary policy. C) the changes involve fiscal policy. D) the changes affect aggregate demand.
Refer to Figure 4.8. How many stable Nash equilibrium points are there in this game?
A) 0 B) 1 C) 2 D) 3
Using carefully-labeled graphs, explain how an individual demand curve is derived from the utility-maximizing behavior of a consumer.
What will be an ideal response?
The study of an individual's choice about what type of computer to buy is a subject of
A) macroeconomics. B) microeconomics. C) an aggregate concept. D) not a concern for economic analysis.