According to economist Arnold Kling's perspective on the economy, economic activity is best viewed by focusing on

You decide to spend time studying for a philosophy exam, even though you have offers to go to see a movie, go out to dinner, or go to a poetry reading

This is a difficult choice for you because you really want to go to the poetry reading and would choose that over seeing the movie or going out to dinner. Your opportunity cost of spending time studying for your philosophy exam is A) going to the movie. B) going out to dinner. C) going to the poetry reading. D) all of the above, since you have offers to do all three

When the real exchange rate for the dollar appreciates, U.S. goods become

a. less expensive relative to foreign goods, which makes exports rise and imports fall. b. less expensive relative to foreign goods, which makes exports fall and imports rise. c. more expensive relative to foreign goods, which makes exports rise and imports fall. d. more expensive relative to foreign goods, which makes exports fall and imports rise.