If the producers of canned green beans expect the price of canned green beans to increase in the future due to an increase in demand, they may put some of their current production into storage and supply less in the market today
a. True
b. False
Indicate whether the statement is true or false
True
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Lowering the interest rate will
A) increase investment projects by firms. B) decrease the value of the dollar and lower net exports. C) decrease spending on consumer durables. D) decrease spending on new homes.
A curve that represents all combinations of market baskets that provide the same level of utility to a consumer is called:
A) a budget line. B) an isoquant. C) an indifference curve. D) a demand curve. E) none of the above
A minimum wage that is set below the equilibrium wage will:
a. cause increased unemployment. b. have no effect on employment. c. cause the overall wage to increase. d. cause the overall wage to decrease. e. create more jobs.
Fiscal policy is implemented primarily by
A) local governments alone. B) the defense department. C) state governments alone. D) the federal government. E) state and local governments.