An increase in the equilibrium price of Japanese yen per dollar could be caused by a(n):
a. increase in the general level of prices in Japan.
b. increase in the U.S. demand for domestically-built automobiles.
c. decrease in the U.S. income relative to the income in Japan.
d. increase in the supply of dollars on the foreign market.
d
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Which of the following summarizes the limitations of monetary policy?
A. The Fed is most effective at influencing long-term interest rates but is unable to have a short-run impact on the economy. B. The Fed directly sets all interest rates, but no interest rate has any short-run effect on the economy. C. The Fed can directly influence many different interest rates, but it can only influence them a little bit. D. The Fed has a lot of control over just one interest rate, and interest rates influence economic activity in the short run only.
One weakness of the Sherman Act is that
A) it fails to clearly define restraint of trade. B) it applies only to foreign monopolies. C) it applies only to the steel and railroad industries. D) none of the above.