If demand decreases and supply increases, which of the following is correct? Question 24 options:
A. The equilibrium price falls but the impact on the equilibrium quantity is ambiguous.
B. The equilibrium price rises but the impact on the equilibrium quantity is ambiguous.
C. The equilibrium quantity increases but the impact on the equilibrium price is ambiguous.
D. The equilibrium quantity decreases but the impact on the equilibrium price is ambiguous.
E. The equilibrium price falls and the equilibrium quantity decreases.
A. The equilibrium price falls but the impact on the equilibrium quantity is ambiguous.
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Classical growth theory asserts that
A) growth in real GDP per person is temporary. B) only some countries can have economic growth. C) real GDP growth will eventually be a constant 3 percent per year. D) nominal GDP growth is most important.
Agriculture is a sector of the economy where increased productivity has been accompanied by a significant decrease in employment
a. True b. False Indicate whether the statement is true or false
Suppose there is a decrease in the price of corn. If corn is an input into the production of ethanol, we would expect the supply curve for ethanol to
a. shift rightward. b. shift leftward. c. become flatter. d. remain unchanged.
In answering which of the following questions would you find it necessary to calculate a present value?
a. Should Jane put $1,000 today into a 5-year certificate of deposit that pays 4 percent annual interest? b. Should ABC Corporation buy a factory today for $2 million, knowing that the factory will yield the corporation $3 million after 5 years? c. If Jill puts $5,000 today into a bank account that pays 3 percent interest, then how much will she have in the account after 2 years? d. You would find it necessary to calculate a present value in order to answer all of these questions.