Recall the Application about price controls on candy bars during World War II to answer the following question(s).Recall the Application. In a comparison of weights of candy bars in 1943 and 1939, a Consumer Reports study found that in a vast majority of cases, the size of candy bars had ________ and their price per ounce had ________.
A. increased; increased
B. increased; decreased
C. decreased; increased
D. decreased; decreased
Answer: C
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Assume that the equilibrium price in a perfectly competitive industry is $4.25 . If a firm in this industry produced and sold 10 units with an average total cost of $5.00, what would be the result would be:
a. a profit of $0.75 b. a profit of $7.50 c. a loss of $0.75 d. a loss of $7.50
If the money wealth, interest rate, and international effects increase the quantity of aggregate demand by 2 percent when the price falls by 2 percent and the multiplier is 4, then the slope of the aggregate demand curve is:
A. ?1/4. B. ?1. C. ?1/2. D. ?4.
The process of developing hypothesis, testing them against facts, and using the results to construct theories is called:
What will be an ideal response?
What policy tool of the Federal Reserve relies on bank borrowing to be effective?
A. Open-market operations B. Check collection C. The reserve ratio D. The discount rate