The above figures show the market for oranges. Which figure(s) shows the effect of a nation-wide consumer boycott of eating oranges?
A) Figure B
B) Figure C
C) Figures B and C
D) Figures A and D
A
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When contractionary monetary policy increases the interest rate, it causes the price level to:
A. decrease, and output to increase. B. rise, and output to decrease. C. rise, and output to increase. D. decrease, and output to decrease.
In the two-sector growth models, endogenous growth arises from
A) increased saving. B) the research sector. C) increased capital. D) the manufacturing sector.
Prices
a. solve the problem of distribution of products among consumers. b. act as rationing devices. c. under laissez faire produce an efficient allocation of resources. d. do all of the above.
An increase in supply, holding demand constant, will cause:
a. Higher prices and a larger quantity sold b. Lower prices and a larger quantity sold c. Higher prices and a smaller quantity sold d. Lower prices and a smaller quantity sold