The demand for corn increases. As a result, the price of corn will ________, and the less elastic the supply of corn, the ________ will be the effect on the price
A) fall; smaller
B) fall; greater
C) rise; smaller
D) rise; greater
D
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A decrease in the money supply would cause the IS curve to ________ and the LM curve to ________
A) shift down and to the left; be unchanged B) shift down and to the left; shift up and to the left C) be unchanged; shift up and to the left D) be unchanged; shift down and to the right
Starting from equilibrium in the ISLM framework, an increase in money demand results in
A) a rise in income and the interest rate. B) a rise in income and a decline in the interest rate. C) a decline in income and the interest rate. D) a decline in income and a rise in the interest rate.
In short-run equilibrium in a perfectly competitive market, firms always make zero economic profit
a. True b. False Indicate whether the statement is true or false
Why does it take so long for the declaration of the beginning and end of recessions in the U.S. and why is there a lack of clarity as to what is and is not a recession?
What will be an ideal response?