A decrease in Americans' preference for foreign goods will lead to the following in the foreign exchange market:
A. an increase in the demand for dollars.
B. a depreciation of the dollar relative to foreign currencies.
C. a movement down the demand curve for dollars.
D. a decrease in the supply of dollars.
Answer: D
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Jamal maximizes utility by allocating his time among leisure, market work, and household work so that
a. expected marginal utility is equal among all three b. expected total utility per hour is equal among all three c. expected marginal utility per hour is equal among all three d. the maximum amount of goods and services can be acquired e. expected total utility of each use is equal
If the equilibrium price of bread is $2 and the government imposes a $1.50 price ceiling on the price of bread, then:
a. more bread will be produced. b. there will be a shortage of bread. c. the demand for bread will decrease. d. producers will charge $0.50 for bread. e. $0.50 in tax revenue will be paid for each unit of bread.