Which of the following creates a demand for U.S. dollars?
A) Toyota, a Japanese firm, purchasing land in Texas
B) a U.S. restaurant purchasing Mexican tomatoes
C) a U.S. tourist catching a show in London
D) a Japanese tourist catching a show in London
A
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When Toyota introduced its 2010 Prius, it announced that the average retail price of the 2010 model would be lower than the average retail price was for the equivalent 2009 model. Which of the following would explain the price differential?
A) The supply of the Prius had decreased, and the demand for the Prius remained unchanged. B) The demand for the Prius had increased, and the supply of the Prius remained unchanged. C) The demand for the Prius had decreased, and the supply of the Prius had increased. D) The demand for the Prius had increased, and the supply of the Prius had decreased.
The more elastic the supply, the larger the deadweight loss from a tax, all else equal
a. True b. False Indicate whether the statement is true or false