Other things constant, which of the following is likely to change the quantity of wheat supplied?
A) a government subsidy for farmers who do not grow wheat
B) an increase in the price of soybeans
C) a decrease in the price of the fertilizer used in wheat production
D) a fall in the price of wheat
E) an expectation of a future increase in wheat prices
Ans: E) an expectation of a future increase in wheat prices
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The first antitrust law passed was the ________
A) Federal Trade Commission Act B) Sherman Act C) Clayton Act D) Robinson-Patman Amendment
Which of the following is a difference between net domestic product (NDP) and gross domestic product (GDP)? a. GDP includes the cost of polluting the environment, while NDP does not
b. GDP excludes net taxes, while NDP includes it. c. GDP excludes that part of the capital stock used up in the production process, while NDP includes it. d. GDP includes all government spending, while NDP excludes government spending. e. GDP includes that part of the capital stock used up in the production process, while NDP does not.
If the Surgeon General announces that colas cause cancer then we would expect
A. the demand for cola will stay the same. B. the demand for cola will shift right. C. the demand for cola will shift left. D. one cannot tell.
According to the purchasing power parity theory, which of the following is most likely to affect exchange rates?
A. Differences in inflation rates B. Differences in interest rates C. Differences in income levels D. Differences in real GDP growth rates