Recall the Application about the harmattan and how it affects the price of cocoa to answer the following question(s).This Application illustrates how a change in weather conditions can adversely impact the ________ by ________ the price of a good.
A. demand; decreasing
B. demand; increasing
C. supply; decreasing
D. supply; increasing
Answer: D
You might also like to view...
Suppose the price of coffee is $3 each, the price of bagels is $2 each and a person's budget is $40. The relative price of coffee is
A) 1.5 bagels. B) 2/3 of a bagel. C) 13.33 bagels. D) 20 bagels.
By the 2000s, an important change in the mortgage market had occurred when ________ became significant participants in the secondary market for mortgages
A) Federal Reserve Banks B) commercial banks C) savings banks D) investment banks
According to the graph shown, what does Y on the x-axis stand for?
A. Full employment level of output
B. Current level of GDP
C. Observed level of output
D. Future target goal for output
Economic profit is accounting profit minus the cost of capital
Indicate whether the statement is true or false