In recent years, the world demand curve for copper shifted rightward due to continued economic growth in China and other emerging economies. Also, the costs of extracting the copper increased due to higher energy prices. As a result, we observed:
A) higher equilibrium copper prices and unambiguously lower quantities.
B) higher equilibrium copper prices and unambiguously higher quantities.
C) higher equilibrium copper prices and either higher or lower quantities.
D) lower equilibrium copper prices and either higher or lower quantities.
C
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When good weather speeds the check-clearing process, float tends to ________ causing the Fed to initiate defensive open market ________
A) decrease; sales B) decrease; purchases C) increase; sales D) increase; purchases
Which of the following observations concerning the Phillips curve is not true?
a. They are normally upward-sloping. b. They are more commonly constructed for price inflation. c. They depict the inverse relation between wage inflation and unemployment. d. They depict the rate of unemployment on the horizontal axis.
Those economists who believe that the economy is self-regulating argue that wages are flexible, so they think that the economy can remove itself from a recessionary gap without government intervention
Indicate whether the statement is true or false
Which of the following does not have the power to set prices?
A.) A duopoly. B.) A monopoly. C.) An oligopoly. D.) A perfect competitor.