In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices.
B. lower prices.
C. lower output.
D. None of these is true.
Answer: D
You might also like to view...
In the strategic view of bargaining:
a. Bargaining is described by standard game theory rules b. The game is played without specific strategies c. The game always results in a fifty-fifty split d. The game is played just for the fun of it
Place the four statements in the appropriate category, indicating what factors tend to raise labor productivity and what factors tend to lower it.
Which of the following examples, ceteris paribus, would lead to a change in consumption that would shift that nation’s aggregate demand curve?
a. Youths in Canada increase their student loan debt. b. The Italian government purchases a dozen U.S.-made satellites. c. The U.S. government lowers taxes on businesses. d. Farmers in Ecuador increase their production of plantains.
The share of total income for "capitalists" in America (in the form of rent, interest, and profits) has been about:
A. 20 percent B. 40 percent C. 50 percent D. 75 percent