Because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates the
A. demand for oranges will necessarily rise.
B. price of oranges will fall.
C. equilibrium quantity of oranges will rise.
D. supply of oranges has declined.
Answer: D
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As the manager of good A, which of the following would be of greatest concern (based on the regression results above)?
A) None of the factors below would be of concern. B) an impending recession C) pressure on you by your salespersons to lower the price so that they can boost their sales D) a price reduction by the makers of good B
The major component of the marketing bill for food is ________
Fill in the blank(s) with correct word
Which of the following groups of economists believe that cost-push inflation is impossible in the long run without excessive monetary growth?
A. Mainstream economists and monetarists. B. Mainstream economists and rational expectations economists. C. Monetarists and rational expectations economists. D. Mainstream economists, monetarists, and rational expectations economists.
In terms of the production possibility frontier, ________ would best be shown by the production possibility frontier shifting outward.
A. an increase in productivity attributable to an increase in the capital stock B. a change in consumer tastes C. a decrease in the unemployment rate D. a shift in resources from capital goods to consumer goods