A change in the dollar price of yen from $1 = 100 yen to $1 = 50 yen will:
A. make U.S. goods more expensive to the Japanese.
B. make Japanese goods less expensive to Americans.
C. increase U.S. exports and depress Japanese exports.
D. increase Japanese exports and depress U.S. exports.
C. increase U.S. exports and depress Japanese exports.
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The production possibilities frontier is the boundary between
A) those combinations of goods and services that can be produced and those that can be consumed. B) those resources that are limited and those that are unlimited. C) those combinations of goods and services that can be produced and those that cannot. D) those wants that are limited and those that are unlimited.
Since 2001, the U.S. government budget deficit
A) has been approximately equal to 10% of U.S. GDP. B) as a percentage of U.S. GDP has increased steadily each year. C) as a percentage of U.S. GDP has decreased steadily each year. D) none of the above.