The price of old baseball cards rises rapidly with increases in demand because:

A perfectly inelastic demand schedule:

Refer to the above graph. An increase in the supply of yen will result in:

Evidence of a chronic balance of payments deficit is:

Answer Question 21 based on the information contained in the following graph

If the demand for farm products is price inelastic, a good harvest will cause farm revenues to:

As it relates to international trade, dumping:

Refer to the above diagram where xy is the relevant budget line and I1, I2, and I3 are indifference curves. At point K: 

In effect tariffs on imports are:

Which of the following would tend to raise the value of the U.S. dollar in foreign exchange markets?