If ethanol production is expected to increase the price of corn, U.S. farmers will likely
A) shift the supply of corn to the left.
B) shift the supply of corn to the right.
C) reduce the production of corn by sliding down the corn supply curve, all else equal.
D) increase the production of corn by sliding up the corn supply curve, all else equal.
D
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In the stock valuation formula "good news" affects both the numerator and denominator. Conventional wisdom on Wall Street is that the effect on the __________ is __________ the effect on the __________
A) numerator; less than; denominator B) numerator; greater than; denominator C) numerator; the same as; denominator D) None of the above.
Why did railroads come under government regulation?
(a) Disgruntled shippers and travelers raised an outcry about the routes of railroads. (b) Some people effectively argued that railroads were charging "unfair" rates. (c) The railroad industry was too competitive, thus driving rates below those necessary to ensure normal profits for railroad companies. (d) All of the above are correct.
The marginal propensity to save is
a. the change in saving divided by the change in income b. the change in income divided by the change in saving c. saving divided by income d. income divided by saving e. saving divided by consumption
Price discrimination requires the firm to
a. separate customers according to their willingnesses to pay. b. differentiate between different units of its product. c. engage in arbitrage. d. use coupons.