Refer to the diagram below of the market for corn. There will be a surplus of 8 thousand bushels at the price of:
A. $4/bushel
B. $3/bushel
C. $2/bushel
D. $5/bushel
Answer: A
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The sudden explosion of cheap and readily available mortgages encouraged people to:
A. buy bigger and better homes. B. become less risk-averse. C. become more risk-averse. D. securitize their investments.
Which of the following countries has the highest level of average educational attainment?
a. Canada b. Italy c. India d. Sudan
Land, as a resource, is sometimes confused with what is ________.
Fill in the blank(s) with the appropriate word(s).
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.