The parity price ratio is the ratio of the prices farmers receive from selling their goods to the prices farmers pay when they buy consumer goods, such as shoes
Indicate whether the statement is true or false
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Real wages will rise if
A) money supply growth is less than expectations. B) real interest rates fall. C) aggregate demand is less than aggregate supply. D) money supply growth exceeds the inflation rate.
Producer surplus refers to
a. the difference between the market price for a good and the minimum price the producer would accept b. the difference between the market price for a good and the maximum price a consumer would be willing to pay c. the excess supply a firm produces for the market d. the profit a producers receives for a good e. the difference between consumer surplus and the price of the good
The most desirable combination of output attainable with existing resources, technology, and social values is known as the
A. Attainable mix of output. B. Efficient mix of output. C. Efficient choice of production. D. Optimal mix of output.
Which of the following will not cause a shift in the demand curve for DVDs?
A. a change in wealth B. a change in the price of DVDs C. a change in the price of Blu-ray discs D. a change in income