In 2014, the price of peanuts was rising, which lead peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. In the current market for peanut butter, the price rises and the quantity increases
This set of results means that A) demand increased by more than supply decreased.
B) supply decreased by more than demand increased.
C) demand increased by more than supply increased.
D) supply decreased by more than demand decreased.
A
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In a monopolistically competitive market,
a. there are only a few sellers. b. each firm takes the price of its product as given. c. firms can enter or exit the market without restrictions. d. each firm produces a product that is essentially identical to the products of other firms in the market.
Two receptionists work at Widget, Inc., one in the morning and one in the afternoon. They are an example of
a. job specialization b. job rotation c. job sharing d. none of the above
Labor unions in the United States today
A. look to protect the interests of the employers of labor. B. are as influential as they were in the 1950s. C. are much more popular among immigrant workers than among native workers. D. tend to be less influential compared to labor unions in other developed countries. E. cover the same percent of workers as they did in years past.
Among the assets of commercial banks are demand deposits.
Answer the following statement true (T) or false (F)