Suppose the price of tomatoes dramatically increases. Which of the following could cause this change?
A. A news report stating that a pesticide used on tomatoes might cause cancer, shifting the demand to the right
B. Hurricanes during the late summer damage the Florida crop, shifting supply left
C. Advertising for ketchup increases demand for ketchup, shifting the demand curve to the left
D. A reduction in tariffs of tomatoes from Central American, shifting supply right
Answer: B
You might also like to view...
The demand for dollars is downward sloping because when dollar appreciates,
a. Foreigners demand more US goods and services b. Foreigners demand fewer US goods and services c. Foreigners demand more dollars d. Foreigners do not change their demand for US goods and services
The short-run aggregate supply curve is most likely to shift down (to the right) if:
A. input prices fall. B. productivity falls. C. sales taxes increase. D. wages rise.
Comparing total taxes as a percentage of GDP in the United States to Western European countries, such as the France, Norway, and Sweden,
A. U.S. taxation is smaller. B. U.S. taxation is about the same. C. U.S. taxation is slightly larger. D. U.S. taxation is substantially larger.
Which one of the following is not correct?
A. In antitrust cases defendants attempt to define the relevant market broadly. B. The courts have varied over time in their interpretations of the antitrust statutes. C. Antitrust suits can only be originated by the Federal Trade Commission. D. In antitrust cases the prosecution attempts to define the relevant market narrowly.