A vertical supply curve for fish represents a
a. surplus of fish
b. shortage of fish
c. market-day supply curve
d. short-run supply curve for fish
e. long-run supply curve for fish
C
You might also like to view...
A friend is currently earning income but does not expect to earn income in the future. When the interest rate rose, I observed him saving less. From this, I can conclude that current consumption is an inferior good for my friend.
Answer the following statement true (T) or false (F)
In 2004, hurricanes damaged a large portion of Florida's orange crop. As a result of this, many orange growers were not able to supply fruit to the market
If, following the hurricane, the price remained at its pre-hurricane level, we would expect to see A) a surplus of oranges. B) a shortage of oranges. C) an increase in the demand for oranges. D) the quantity demanded equal to the quantity supplied.
If a firm has two plants, one located in desirable Scenic Springs and the other located in the undesirable Swamp Lands, the workers in Scenic Springs will be paid ________ than the workers in Swamp Land and the difference in wages is referred to as a ________.
A) less; compensating wage differential B) less; worker equity payment C) more; worker equity payment D) more; compensating wage differential
The possible asymmetry of monetary policy is the central idea of the:
A. invisible hand concept. B. ratchet analogy. C. pushing-on-a-string analogy. D. bandwagon effect.