Refer to Figure 29-3. Consider the market for U.S. dollars against the Japanese yen shown above. An event which could have caused the changes shown in the graph would be
A) an economic expansion in the United States.
B) an increase in U.S. real income.
C) a decrease in Japanese interest rates.
D) speculators expect the dollar to depreciate in value in the near future.
C
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The efficient quantity of a pure public good occurs when the marginal cost of producing that good equals the
A) marginal benefit to the median voter. B) marginal benefit to each individual. C) sum of all individual marginal benefits. D) sum of all individual marginal benefits divided by the number of voters.
A headline reads "Perfect Weather Brings Record-High Coffee Harvest." This situation would lead to a(n):
A. Increase in the price and in the quantity purchased of coffee B. Decrease in the price and in the quantity purchased of coffee C. Increase in the price and a decrease in the quantity purchased of coffee D. Decrease in the price and an increase in quantity purchased of coffee