The increase in the availability of organic foods likely:
A. raises equilibrium quantity and price for organic foods.
B. lowers equilibrium quantity and raises equilibrium price for organic foods.
C. raises equilibrium quantity and lowers equilibrium price for organic foods.
D. lowers equilibrium quantity and price for organic foods.
Answer: C
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If a country had a nominal GDP of $800 million, and the GDP Deflator was 95, what is the real GDP?
a. $750 million b. $828 million c. $950 million d. $842 million
Economists who focus on the need for fiscal austerity tend to focus on
A. the short run. B. the long run. C. both the short run and the long run. D. neither the short run or the long run.
If prices are not stable:
A. money performs better as a unit of account. B. prices become highly useful for conveying information. C. money becomes less useful as a store of value. D. it may be an inconvenience, but resources are still allocated efficiently.
When economists refer to capital flight, they are speaking of an:
A. outflow of financial capital from a certain country. B. outflow of real capital from a certain country. C. outflow of financial and real capital from a certain country. D. outflow of human capital from a certain country.