American purchases of Chinese goods decreases due to concern over lead found in

Question

American purchases of Chinese goods decreases due to concern over lead found in Chinese products. This will lead to a(n):
A) A decrease in the demand for yuan (the currency of China) and an increase in the demand for U.S. dollars.
B) A decrease in the supply of yuan (the currency of China) and a decrease in the supply of dollars.
C) A decrease in the demand for yuan (the currency of China) and a decrease in the demand for dollars.
D) A decrease in the supply of yuan (the currency of China) and a decrease in the demand for dollars.
E) A decrease in the demand for yuan (the currency of China) and a decrease in the supply of dollars.

A?

What is the price elasticity of demand for a product whose price increases from $2 to $4 and whose quantity demanded decreases from 10 to 5 units?
A) -3.0
B) -0.5
C) -1.0
D) -0.4

Is it B?

Statement 1: In oligopoly markets, the firms will be producing at the lowest point on the average total cost (ATC) curve. Statement 2: Social surplus is always maximized in oligopoly markets.
A) Statement (1) is true; statement (2) is false.
B) Both statements (1) and (2) are true.
C) Statement (1) is false; statement (2) is true.
D) Both statements (1) and (2) are false.

Are both True?

Statement 1: The quantity produced in perfectly competitive markets, is that quantity that leads to a maximization of social surplus. Statement 2: In the long run, the quantity produced will be that quantity that occurs at the minimum of the ATC curve.
A) Both statements (1) and (2) are true.
B) Statement (1) is true; statement (2) is false.
C) Statement (1) is false; statement (2) is true.
D) Both statements (1) and (2) are false.

Not sure

Statement 1: A monopsony occurs when there is a single buyer or employer in the market. Statement 2: The United States Postal Service (USPS) is an example of a monopsony.
A) Both statements (1) and (2) are false.
B) Both statements (1) and (2) are true.
C) Statement (1) is false; statement (2) is true.
D) Statement (1) is true; statement (2) is false.

Statement 1 Is True, but not sure about Statement 2.

Dont worry I will be rating these when im all done with my study guide!

Explanation / Answer

1. A) A decrease in the demand for yuan (the currency of China) and an increase in the demand for U.S. dollars.

2. B) -0.5

3. D) Both statements (1) and (2) are false.

4. A) Both statements (1) and (2) are true.

5. D) Statement (1) is true; statement (2) is false.

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