If Japanese real interest rates fall relative to real interest rates in the U.S., the yen will likely appreciate and the dollar will likely depreciate

The 1920s was a period of alcohol prohibition in the United States. During the 1920s,

A) the purchase and sale of alcohol was illegal. B) people coordinated their alcohol production and consumption activities in illegal, underground markets. C) the supply of alcohol became quite inelastic. D) all of the above were true. E) none of the above were true.

Trade agreements are reciprocal in the sense that: a. workers and firms suffer because of international trade

b. a rise in the prices of imports in one country leads to a decrease in the prices of imports in other countries. c. when a country opens its domestic markets to imports, markets in other nations are opened to its exports. d. when small companies in one country sell to larger markets in other countries, they gain economies of scale.