Suppose Sam plans to buy only popcorn and soda. He has $40 to spend per week. A change in which of the following variables will change Sam's consumption possibilities? I. price of popcorn II. income III. preferences IV. utility

When the U.S. dollar depreciates against the yen, the yen ________ and the exchange rate ________

A) appreciates; rises B) depreciates; rises C) appreciates; falls D) depreciates; falls

Although rice is a staple of the Japanese diet, the Japanese government has long restricted the importation of rice into Japan. The result of this import quota is:

A) to decrease the price of rice to the Japanese people. B) to decrease the consumer surplus of Japanese rice consumers. C) to decrease the producer surplus of Japanese rice producers. D) a welfare gain for the Japanese people. E) to increase the consumption of rice by the Japanese people.