Which of the following does NOT shift the demand curve for broccoli?
A) an increase in the cost of fertilizer used to grow broccoli
B) a warning by the U.S. Surgeon General that broccoli causes schizophrenia
C) an increase in the price of spinach, a substitute for broccoli, because rodents gobbled up much of this year's spinach crop
D) a decrease in the price of spinach, a substitute for broccoli, because of a bumper crop of spinach this year
A
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Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. One of the reasons why Country A and Country B are not realistic representations of actual countries is:
A. the production possibilities curves are straight lines; realistic ones would be concave. B. they only represent two countries. C. they only represent the production of two goods. D. All of these statements are true.
Among the factors that determine the price of a share of stock in a firm is
A. dividends people may expect will be paid in the future. B. the time to maturity of a bond. C. the number of years the firm has existed. D. the number of workers the firm has.
At a certain level of production, the marginal revenue and marginal cost of a monopolist are $8 and $6, respectively. Which of the following statements is true in this context?
A) The monopolist should expand production. B) The monopolist should contract production. C) The profits of the monopolist are maximized. D) The profits of the monopolist are minimized.
Refer to Figure 15-7. Suppose the Fed sells Treasury Bills in pursuit of contractionary monetary policy. Using the static AD-AS model in the figure above, this situation would be depicted as a movement from
A) B to C. B) B to D. C) C to B. D) C to D. E) A to B.