Evidence shows that the Chinese yuan was substantially overvalued against the U.S. dollar in mid-2005.

The reason that the government offers inventors exclusive rights to their product for a period of time is to

A) promote innovation. B) increase profits of certain companies. C) maximize consumer utility. D) reduce market concentration.

Assume that crackers and soup are complementary goods. The effect on the soup market of an increase in the price of crackers (other things being equal) would best be described as a(n):

a. decrease in the quantity of soup demanded. b. decrease in the demand for soup. c. increase in the quantity of soup demanded. d. increase in the demand for soup.