If there is bilateral currency trade between Japan and the U.S., then as the supply of U.S. dollars on the world foreign exchange market ________, the price of a dollar in terms of Japanese yen will ________

Ronald Coase argued that firms exist due to the presence of

A) transfer costs. B) unions. C) transactions costs. D) easy market transactions.

If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to:

a. rise and the equilibrium quantity to fall. b. rise and the equilibrium quantity to stay the same. c. rise and the equilibrium quantity to rise. d. stay the same and the equilibrium quantity to fall.