If the government increases its efforts to reduce illegal drugs which of the following would explain the possible unintended consequences—an increase in drug-related crimes.
a. More people will commit crimes as a result of the increased drug use
b. Tough drug enforcement policies reduce the demand for illegal drugs.
c. Drug addicts will have an even greater need for quick cash to support their habits.
d. In the short run, both equilibrium quantities and prices will fall in the markets for illegal drugs.
c
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An appreciation of one's currency means that
a. the country's exports will become less expensive. b. the country's imports will become more expensive. c. the country's imports will become less expensive. d. it now requires more of this currency in exchange for one unit of another currency. e. it now requires less units of other currencies in exchange for one unit of this currency.
If the exchange rate between the U.S. dollar and the euro was 1.20 ($1.20 = one euro), what would be the price in dollars of a bottle of French wine selling for 40 euro?
a. $33.33 b. $40 c. $48 d. $120