Skippy loves peanut butter. Skippy reads on the internet that 75 percent of the peanut crop in the South has been wiped out by drought, and that this will cause the price of peanuts to more than double by the end of the year. As a result,
a. Skippy's demand for peanut butter will increase, but not until the end of the year.
b. Skippy's demand for peanut butter increases today
c. Skippy's demand for peanut butter decreases as he considers buying almond butter.
d. Skippy's demand for peanut butter shifts left today.
b
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The figure above provides information about Light-U-Up Utilities, which is a natural monopoly that provides electricity. What is the area of deadweight loss when Light-U-Up produces the unregulated, profit-maximizing level of output?
A) abd B) acg C) deg D) There is no deadweight loss.
Which of the following best represents the money supply?
A) Money supply = Monetary base. B) Money supply = Monetary base / Money multiplier. C) Money supply = Money multiplier ( Currency in circulation + Reserves). D) Money supply = (Currency in circulation + Reserves) / Money multiplier.
The labor supply curve is usually upward sloping
a. True b. False Indicate whether the statement is true or false
Which of the following would not shift the aggregate demand curve? Changes in:
A. Productivity rates B. Foreign-exchange rates C. Real interest rates D. Income tax rates