Because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates the:
A. demand for oranges will necessarily rise.
B. equilibrium quantity of oranges will rise.
C. amount of oranges that will be available at various prices has declined.
D. price of oranges will fall.
Answer: C
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A takeover of one firm by another
A. ties up the nation’s capital wastefully. B. uses up the economy’s credit supply. C. reduces the value of the acquired firm. D. changes the ownership of the acquired firm.
Family, language, and customs tie people to particular areas, so that the fact that people have the right to migrate does not mean that large numbers of them will actually do so
a. True b. False Indicate whether the statement is true or false
A U.S. publisher purchases new computers that were manufactured in the U.S. This purchase by itself makes
a. a positive contribution both to investment and to GDP. b. a positive contribution both to consumption and to GDP. c. a positive contribution to GDP, but it does not affect investment or consumption. d. a positive contribution to investment, but it does not affect GDP.
If in some year nominal GDP was $10 trillion and real GDP was $4 trillion, what was the GDP deflator?
a. 25. b. 40. c. 250. d. 400.