Figure 19-1
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Of the graphs in Figure 19-1, which one shows that an expansion of the Japanese economy leads to a depreciation of the yen?

Which of the following best explains the closing gap between rural and urban mortality rates?

(a) Relatively higher incomes in urban areas (b) Relatively lower prices in urban areas (c) Medical advancements, health education, and public health and sanitation involvement (d) All of the above.

Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's utility is U(p,k) = k0.5p0.5 and income is $100, what is the marginal rate of substitution (MRS) between picnics and kayak trips?

A) MRS = 1. B) MRS = -1. C) MRS = - D) There is no substitution because picnics and kayak trips are perfect complements.