The inverse supply curve of coffee beans equals P = -5 - 2rain + Qs, where rain equals the number of inches of rain per year. How much does quantity supplied change when rain increases from 30 inches to 40 inches per year?
A) Qs decreases by 40.
B) Qs increases by 40.
C) Qs increases by 30.
D) Qs decreases by 30.
B
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If a variable moves in the opposite direction from real GDP and other measures of aggregate economic activity, it is a ________ variable
A) procyclical B) countercyclical C) coincidental D) recessionary
When a country that imports a particular good imposes a tariff on that good,
a. consumer surplus increases and total surplus increases in the market for that good. b. consumer surplus increases and total surplus decreases in the market for that good. c. consumer surplus decreases and total surplus increases in the market for that good. d. consumer surplus decreases and total surplus decreases in the market for that good.
For most of the 19th century in the American West, there was
A. an abundance of labor relative to land. B. abundance of land relative to labor. C. an abundance of both labor and land. D. a scarcity of both labor and land.
The _____________________: the ratio of a property's annual net income to its value, is a fundamental pricing metric in commercial real estate markets.
Fill in the blank(s) with the appropriate word(s).