The U.S. supply of Japanese yen is:
A. downsloping because a lower dollar price of yen means U.S. goods are cheaper to the
Japanese.
B. upsloping because a higher dollar price of yen means U.S. goods are cheaper to the
Japanese.
C. upsloping because a lower dollar price of yen means U.S. goods are cheaper to the
Japanese.
D. downsloping because a higher dollar price of yen means U.S. goods are cheaper to the
Japanese.
B. upsloping because a higher dollar price of yen means U.S. goods are cheaper to the
Japanese.
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?Hair Pins /hourBandanas /hourNigel410Mia93
Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 18.3. Which of the following is TRUE?
A. Nigel has a comparative advantage in producing hair pins but not bandanas. B. Nigel has a comparative advantage in producing bandanas but not hair pins. C. Nigel has a comparative advantage in producing both goods. D. Nigel does not have a comparative advantage in producing either good.
In a closed economy, real Gross Domestic Product (GDP) is at equilibrium occurs where
A. saving exceeds planned investment. B. planned expenditures exceed national income. C. the C + I + G line crosses the 45-degree line. D. all of these.