Suppose that both the demand for and supply of agricultural products increases. If the increase in the supply of agricultural products is greater than the increase in demand, prices of agricultural products
A) increase.
B) decrease.
C) remain the same.
D) may increase, decrease, or remain the same.
B
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Which of the following contributes to economic growth?
A) increase in environmental protection policies B) increase in labor regulations restricting the hours of overtime allowed C) increase in labor productivity D) increase in consumer spending
In the above figure, the curve has a slope that is ________
A) positive and becoming larger in magnitude B) positive and becoming smaller in magnitude C) negative and becoming larger in magnitude D) negative and becoming smaller in magnitude
The above table shows the percent of sales held by the four largest firms in an industry
a) Calculate this industry's four-firm concentration ratio. b) Is this industry competitive? c) What market type does it most likely represent?
Which of the following statements is incorrect? a. Job losers typically account for 50 to 60 percent of the unemployed
b. Unemployment rates in the United States during the Great Depression exceeded 50 percent. c. The labor force participation rate is the percentage of the non-institutional population over age 16 that is in the labor force. d. The increase in the labor force participation rate since 1950 can be partly attributed to the entry of baby boomers into the labor force.