In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices.
B. lower prices.
C. lower output.
D. None of these is true.
Answer: D
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The demand for foreign currency in the United States is a
A) direct demand. B) derived demand based on the demand for U.S. products. C) derived demand based on the demand for foreign products. D) direct demand based on the demand for U.S. dollars.
Explain how the short-run supply curve of the competitive firm is derived.
What will be an ideal response?
All the goods and services we produce are ____________ .
a. expensive. b. scarce. c. recyclable. d. efficiently produced.
Answer the following statement(s) true (T) or false (F)
1. investors is corporations have unlimited liability for the company's debts 2. cooperatives can be organized to help consumers, provide services, or help producers 3. the dividends of stockholders in a corporation are subject to double taxation 4. the American Federation of Labor is an example of a professional association 5. preferred stock represents the nonvoting ownership of a corporation