If both the supply and demand curves shift to the right, then we can conclude that there will be
A. an increase in the equilibrium quantity sold and an increase in the equilibrium price.
B. a decrease in the equilibrium quantity sold and a decrease in the equilibrium price.
C. an increase in the equilibrium quantity sold and a decrease in the equilibrium price.
D. an increase in the equilibrium quantity sold and an uncertain effect on the equilibrium price.
Answer: D
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In the above figure, while drawing the line showing the relationship between the price of a pound of peanuts and the quantity sold, the
A) price of a pound of pecans does not change. B) price of a pound of peanuts does not change. C) the quantity of peanuts that farmers supply does not change. D) Both answers A and B are correct. E) Both answers B and C are correct.
Refer to the scenario above. What is the payoff to Firm A in equilibrium?
A) $2.4 million B) $2.6 million C) $5.2 million D) $3.0 million
Give an example of a cyclically unemployed person
What will be an ideal response?
This school of thought argues that because people anticipate the consequences of announced government policy and incorporate these anticipated consequences into their present decision making, people end up undermining the government policy. What is it?
a. Neo-Keynesian. b. Keynesian. c. Monetarist. d. Supply-side. e. Rational expectations.