The income elasticity for most foods is positive but less than 1
Indicate whether the statement is true or false
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If a meteorologist discovers a new warming pattern is developing, and the new pattern will create a much larger-than-expected soybean harvest, she should ________ soybean futures
Other things constant, she is more likely to profit from her decision when ________ people are aware of the warming pattern and its consequences. A) buy; fewer B) sell; fewer C) sell; more D) buy; more
A firm realizes that the market price has fallen below its average total costs, and it is now earning a loss. What is the best action for the firm to take in the short run?
A. Produce where MC = MR to minimize losses if P > AVC. B. Shut down if price is greater than average variable costs. C. Produce where MC = MR to minimize losses if P < AVC. D. Shut down if total revenue is less than fixed costs.
Imagine that Wingate National is a new bank, and that the legal reserve requirement is 10 percent. If it accepts a $1,000 cash deposit and immediately makes a $100 loan, its demand deposits, before any checks on its accounts are actually written, are
a. $1,000 b. $1,100 c. $900 d. $990 e. $110
If net exports are negative, then
a. net capital outflow is positive (indicating an inflow of capital), so foreign assets bought by Americans are greater than American assets bought by foreigners. b. net capital outflow is positive (indicating an inflow of capital), so American assets bought by foreigners are greater than foreign assets bought by Americans. c. net capital outflow is negative (indicating an outflow of capital), so foreign assets bought by Americans are greater than American assets bought by foreigners. d. net capital outflow is negative (indicating an outflow of capital), so American assets bought by foreigners are greater than foreign assets bought by Americans.