In the event of excess supply in the coffee market:
A. the price of coffee will increase.
B. the price of coffee will decrease.
C. the supply of coffee will decrease (supply will shift to the left) to meet the demand.
D. the demand for coffee will increase (demand will shift to the right) to meet the supply.
Answer: B
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Which of the statements below best expresses the relationship between the cost of a medical education and the fees charged by physicians?
A) The greater the average cost of a medical education, the higher will be the fees physicians charge. B) The greater the cost of a physician's education in both money and effort, the higher will be the fees they can legitimately set for their services. C) The greater the cost to physicians of a medical education in both money and effort, the higher will be the fees they will charge in order to recover the costs they incurred. D) The greater the expected cost of a medical education, the fewer physicians there will be and the higher their fees will be.
Forcing businesses to divert profits to improve job conditions, increase wages and salaries and broaden benefits fuels animosity toward labor unions
Indicate whether the statement is true or false
Which of the following was not a cause of the Great Recession?
a. Deregulating nationally chartered banks but not state-chartered banks. b.Government incentives to increase home ownership. c. Government encouragement of creative home-buying strategies. d. Relaxation of bank underwriting standards. e. All of the above were causes of the Great Recession.
A combination of inflation and recession is called:
A. deflation. B. stagflation. C. infusion. D. disinflation.