Because of the significant snow fall in the plains this year, the supply of fertilizer to Washington State's apple farmers substantially decreased. As a result, the price of fertilizer has increased in Washington State. This statement indicates the
A. amount of apples that will be available at various prices will decline.
B. price of apples will decrease.
C. demand for apples will necessarily decrease.
D. supply for apples will necessarily increase.
Answer: A
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Answer the following statement(s) true (T) or false (F)
1. The Robinson-Patman Act was designed to stop resale price maintenance. 2. It is possible for a firm engaging in predatory pricing to make a profit on the good even thought the price is set artificially low. 3. It is possible to avoid the prisoners' dilemma as long as the interaction is repeated and has a definite ending date. 4. Fair trade refers to the fact that retailers are free to set their price in the absence of resale price maintenance. 5. An attorney that finds a loophole in a law has formed a creative response to the law.
Which of the following groups agree that the government can take steps to reduce both the unemployment rate and the inflation rate (although they disagree on what those steps ought to be)?
a. Keynesians and supply-siders b. Keynesians and neo-Keynesians c. Keynesians and rational expectations economists d. neo-Keynesians and rational expectations economists e. classical economists, neo-Keynesians, and rational expectations economists
Table 9.4 represents 3 markets for used motorcycles. Which of the markets in Table 14.4 are in equilibrium?
A. 1 only B. 2 only C. 3 only D. 1 and 3
A government can change domestic interest rates to influence short-term capital flows and thereby defend a fixed exchange rate.
Answer the following statement true (T) or false (F)