A worldwide hops (a flowers used in brewing) shortage made stouts, ales and other specialty microbrews more pricy in 2008. A triple whammy of bad weather in Europe, an increase in the price of barley and a decrease in hops production in the U.S
led to a price increase of 20 percent for the most widely grown varieties, to 80 percent for specialty hops. What is the effect of this hops shortage on a microbrewery's cost curves? A) Short run fixed costs would increase.
B) Short run total costs would decrease.
C) Short run average variable costs would decrease.
D) Short run variable costs would increase.
D
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Along a linear (straight-line) downward-sloping demand curve, demand is unit elastic at
A) the highest price. B) the lowest price. C) the midpoint. D) all points on the linear demand curve. E) None of the above because linear demand curves are never unit elastic.
According to Keynesian economics, if there are unutilized resources in the economy and aggregate demand decreases
A) real GDP will rise and price level will remain constant. B) real GDP will fall and price level will remain constant. C) real GDP will rise and price level will rise. D) real GDP will rise and price level will fall.
If a mutual fund with a back-end-load is not sold within the stipulated time period, the investor is not required to pay any fee to the fund manager
a. True b. False Indicate whether the statement is true or false
If a country has a three percent growth rate, approximately how many years will it take for that country’s economy to double in size?
a. 33 years b. 24 years c. 20 years d. 18 years