If the demand for dollars in the market for foreign-currency exchange shifts right, then the exchange rate
a. rises and the quantity of dollars exchanged rises.
b. rises and the quantity of dollars exchanged does not change.
c. falls and the quantity of dollars exchanged falls.
d. falls and the quantity of dollars exchanged does not change.
b
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You write a check to your landlord to pay the rent on your apartment. To your landlord, your check represents a. a claim to goods and services in the future. b. a good with intrinsic value
c. a double coincidence of wants. d. a good with immediate value.
Rayburn Reed is a highly talented photographer. He has chosen to specialize in photography because of all of the following except
A) he obviously has a comparative advantage in photography. B) his opportunity cost of pursuing another career is very low. C) for him, this is the most lucrative way to purchase the products that he wants to consume. D) his photographs are highly esteemed by art lovers who are willing to pay very high prices.