An expectation of increased prices of a good in the future is likely to:
A. increase current demand.
B. decrease current demand.
C. have no impact on current demand.
D. only affect seller's decisions.
A. increase current demand.
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Based on U.S. data for 2011, the poverty rate is the highest for which group of people?
a. children b. married couples c. female-headed households, no spouse present d. the elderly
To the extent that the value of money is less predictable, it becomes
A) more acceptable as a store of value.
B) less acceptable as a medium of exchange.
C) more acceptable as a standard of deferred payment.
D) more acceptable as a unit of account.
Country Y has fifteen thousand acres of land and forty-five thousand laborers, whereas the Rest of the World has one hundred thousand acres of land and two hundred thousand laborers. These countries produce a labor-intensive Good A, and a land-intensive Good B. When trade opens up between these countries, it can be inferred that Country Y will
A. import both goods. B. export both goods. C. export Good B, and import Good A. D. export Good A, and import Good B.
Advertising for Milk and Beef is usually done by
A) interest groups that represent the whole industry. B) a single firm in the market. C) a small set of firms in a market. D) It is not done because it doesn't pay to advertise homogeneous products.