If the dollar used to buy 100 yen and now buys 360 yen, there has been
A) appreciation of the dollar.
B) depreciation of the dollar.
C) appreciation of the yen.
D) an increase in special drawing rights.
Answer: A
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Which of the following statements applies to a single-price monopolist?
A) In order to maximize profits, the monopolist will produce an amount of output that lies in the elastic range of its demand. B) In order to maximize profits, the monopolist will produce an amount of output that lies in the inelastic range of its demand. C) In order to maximize profits, the monopolist will produce where its demand is unit elastic. D) In order to maximize profits, the monopolist will produce an amount of output in the inelastic range of its supply.
Refer to Figure 13-3. Which of the points in the above graph are possible long-run equilibria?
A) B and D B) A and D C) A and C D) A and B