Which of the following statements is true about the impact of an increase in the price of lettuce?
a. The demand for lettuce will decrease
b. The supply of lettuce will decrease.
c. The equilibrium price and quantity of salad dressing will rise.
d. The equilibrium price and quantity of salad dressing will fall.
e. both a and d are true.
d. the equilibrium price and quantity of salad dressing will fall.
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Asset transformation can be described as
A) borrowing long and lending short. B) borrowing short and lending long. C) borrowing and lending only for the short term. D) borrowing and lending for the long term.
Refer to the above table. What is the market quantity demanded of DVDs at a price of $12?
A) 6 B) 9 C) 12 D) 24
If imports exceed exports, as in recent years, then __________ exists.
a. a trade surplus b. a trade deficit c. a trade imbalance d. trade disequilibrium
Suppose the CPI was 95 in 1955, and suppose currently the CPI is 475 . According to the CPI, $100 today purchases the same amount of goods and services as
a. $20.00 purchased in 1955. b. $33.33 purchased in 1955. c. $47.50 purchased in 1955. d. None of the above is correct.