Refer to the accompanying figure, which shows the market for cups of coffee. What might cause a shift from the original supply curve to the new supply curve?
A. A news report that coffee consumption increases longevity
B. An increase in the price of tea
C. A new technology that reduces amount of coffee beans needed to make a good cup of coffee
D. A storm that wipes out a large part of the coffee crop
Answer: C
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Use the following graph to answer the next question.
If AD1 shifts to AD2, with no change in the price level, there will be an increase in Real GDP from ________.
A. Q1 to Q2 B. Q2 to more than Q3 C. Q2 to Q3 D. Q1 to Q3
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A) increase shoeleather costs B) distort consumption choices C) arbitrarily redistribute income D) all of the above
Explain the Fed's countercyclical operations
When budgets and information about costs and asset allocation is prepared for use by the managers of a business, which functional area is responsible for these items?
A. pay-off B. constant C. refund fraction D. finance