What is the value of any index in the base period?
a. 200
b. 150
c. 110
d. 100
e. 105
D
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Refer to the above figure for the corn market. The government wants to set an effective price support in the corn market. To be effective the price should be set
A) below P1. B) at P1. C) at P2. D) at P3.
When will the central bank of a country be concerned about the exchange rate?
In the United States, professional football players earn much higher incomes than professional soccer players. This occurs because:
A. most football players are good soccer players while the reverse is not true. B. consumers have a greater demand for football games than for soccer games. C. football and soccer games are highly substitutable products for most consumers. D. the marginal productivity of soccer players exceeds that of football players.
All of the following will affect the position of the demand curve EXCEPT
A) income. B) taste and preference. C) changes in expectations of future relative prices. D) prices of resources used to produce the product.