On January 12, 2011, the U.S. dollar was worth 76.89 Japanese yen. Roughly how many U.S. dollars did it take to buy 50 yen?

The lowest point on a purely competitive firm's short-run supply curve corresponds to:

A. the minimum point on its ATC curve. B. the minimum point on its AVC curve. C. the minimum point on its AFC curve. D. the minimum point on its MC curve.

As the dollar exchange rate, e, increases, the quantity of dollars supplied in the foreign exchange market ________, and the quantity of dollars demanded in the foreign exchange market ________.

A. decreases; increases B. increases; increases C. decreases; decreases D. increases; decreases