How many British pounds would it cost to buy a pair of American designer jeans costing $45 if the exchange rate is 1.50 dollars per British pound?

Compared to a perfectly competitive industry, a single-price monopoly with the same costs will

A) create less consumer surplus. B) create less economic profit. C) create a deadweight loss. D) Both answers A and C are correct.

A shift in tastes toward American goods ________ net exports in the U.S. and causes the IS curve to shift to the ________ in the U.S., everything else held constant

A) decreases; right B) decreases; left C) increases; right D) increases; left