Which circumstance is most likely to cause a farmer to store soybeans for future sale instead of selling them right after harvest?
(A) Inflation is running at 25 percent.
(B) The government lifts restrictions on the importation of soybeans.
(C) A new technology decreases the chance of rot.
(D) The government imposes an excise tax effective next year.
Ans: (D) The government imposes an excise tax effective next year.
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You decide to spend Thanksgiving with your grandparents instead of going to Las Vegas with 20 of your closest friends. Losing the chance to be with your friends is the ________ cost of spending Thanksgiving with your grandparents
A) explicit B) implicit C) deferred D) accrued
Explain what is meant by excess demand or s shortage
What will be an ideal response?
Social media, such as the online social networking portal Meetup, have increased the likelihood of people forming social tribes by reducing the transaction costs associated with forming such groups.
Answer the following statement true (T) or false (F)
In terms of the aggregate demand and supply framework, a decrease in the money supply will shift the aggregate
A) demand curve to the right. B) demand curve to the left. C) supply curve to the left. D) supply curve to the right.