The price of milk increases. Which of the following is NOT part of the likely chain of events that follows from this price change?
A) Some milk consumers reduce their consumption of milk.
B) Milk producers increase their production of milk.
C) The producers of feed for dairy cows increase production.
D) The manufacturers of milking machines lay off some workers.
D
You might also like to view...
The natural rate hypothesis concludes that when the inflation rate unexpectedly increases, the unemployment rate ________
But when the higher inflation rate becomes the expected inflation rate, the unemployment rate then ________ until it reaches the ________ unemployment rate. A) decreases; decreases; natural B) increases; decreases; natural C) decreases; increases; natural D) increases; decreases; minimum E) decreases; increases; maximum
Restrictions on the types of food additives that breakfast cereal manufacturers can use is an example of a social regulation
a. True b. False Indicate whether the statement is true or false
Do firms really seek to maximize profits?
Which of the following transactions leads to an inflow of funds on the U.S. financial account?
A) A U.S. resident purchases a share of stock on the Hong Kong exchange. B) A U.S. resident sells wheat to an African nation. C) A resident of China purchases U.S. government bonds. D) A resident of Mexico visits the United States.