If a firm expects that the price of its product will be lower in the future than it is today
A) the firm has an incentive to decrease supply now and increase supply in the future.
B) the firm will not change supply until it knows for certain what will happen to its price.
C) the firm has an incentive to increase quantity supplied now and decrease quantity supplied in the future.
D) the firm has an incentive to increase supply now and decrease supply in the future.
D
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The income-expenditure model is best used for short-run analysis of economic fluctuations
Indicate whether the statement is true or false
When road construction crews work at less than 100 percent of effort during their work days in order to create overtime work for themselves, they are creating what economists describe as a
a. moral hazard problem b. work dependency problem c. principal-agent problem d. efficiency wage problem e. employment-management problem
The 1994 book by Murray and Herrnstein, The Bell Curve, was about
A. government debt. B. the intelligence factor. C. capital growth. D. military readiness.
Which of the following countries has adopted the U.S. dollar as its own currency?
A) Ecuador B) Mexico C) Canada D) France E) Australia