Refer to the graph below. One U.S. dollar will purchase how many Japanese yen?

Refer to Figure 11-12. The movement from isoquant T to isoquant U depicts

A) an increase in the cost of production. B) an increase in output. C) an increase in labor usage holding capital and output constant. D) a change in preferences with regards to input usage.

The set of mechanisms and institutions that resolve the basic economic questions is called the

a. economic system b. production possibilities dilemma c. business resolution device d. absolute advantage determination e. comparative advantage determination