A drought that decreases Russian wheat production will
A. shift the supply curve of US corn to the right.
B. shift the supply curve of US corn to the left.
C. shift the demand curve for US corn to the right.
D. shift the demand curve for US corn to the left.
Ans: C. shift the demand curve for US corn to the right.
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Thomas Jefferson and James Madison
a. were instrumental in the creation of the First Bank of the United States b. originally came up with the idea for the Federal Reserve System c. changed the U.S. currency from the dollar to the British pound to avoid financial panic d. opposed the idea of a central bank because they believed it was unconstitutional e. served as governors on the first Board of Governors
Which of the following statements best represents the principle represented by the adage, "There is no such thing as a free lunch"?
a. Michelle can attend the concert only if she takes her sister with her. b. Michael is hungry and homeless. c. Andrea must repair the tire on her bike before she can ride it to class. d. Dani must decide between going to Florida or Brazil for spring break.
A change in an equilibrium price can result fromI.A change in demandII.A change in supply
A. I only B. II only C. Both I and II D. Neither I nor II
A common response to stop a depreciation of a currency is to use contractionary monetary policy, which could lead to a recession
Indicate whether the statement is true or false