an announcement that the "beginning stocks" of corn were higher than expected is an indication that:
a) prices would be expected to decrease more than previously expected
b) prices would be expected to increase more than previously expected
c) there is no effect on prices: stocks are unrelated to the level of future prices
a) prices would be expected to decrease more than previously expected
You might also like to view...
The economic way of thinking assumes people, including Mother Teresa, Jack the Ripper, Henry VIII, and Hilary Rodham Clinton, act on the basis of
A) greed. B) altruism. C) terror. D) the projects they are interested in.
In the presence of no externalities,
A) social marginal cost exceeds private marginal cost. B) social marginal cost is less than private marginal cost. C) social marginal cost equals private marginal cost. D) social marginal cost and private marginal cost cannot be compared.
Economics deals with choices
A) that involve the wants of individuals. B) that involve what people only need to survive. C) that people make without self-motivated interest. D) that people normally do not make.
Utility is a measure of a person's level of satisfaction or happiness from the consumption of a particular good
a. True b. False Indicate whether the statement is true or false