If the Fed wants to depreciate the dollar against the yen, the Fed will
A) increase the supply of dollars by selling yen.
B) increase the demand for dollars by selling yen.
C) decrease the supply of dollars by selling yen.
D) increase the supply of dollars by buying yen.
D
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You spend $20 on a lottery ticket instead of buying groceries. The $20 spent on the lottery ticket represents an ________ and the forgone groceries represent an ________
A) explicit cost; explicit cost B) implicit cost; explicit cost C) explicit cost; implicit cost D) implicit cost; implicit cost
The above figure shows the relationship between the Joneses' total consumption and total household income. The figure illustrates that the Joneses' total consumption varies
A) directly with their total household income. B) independently of their total household income. C) inversely with their total household income. D) negatively with their income.