An increase in the price of wheat will lead to
A) an upward movement along the demand curve for wheat.
B) a leftward shift in the demand curve for wheat.
C) a rightward shift in the supply curve for wheat.
D) an increase in the quantity of wheat consumed.
Answer: A
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The interest rate effect operates through
A) labor supply. B) government spending levels. C) the purchasing power of individuals' checking accounts. D) credit markets by changing borrowing costs.
Explain why Argentina, one of the world's richest countries at the start of the twentieth century, has become progressively poorer relative to the industrial countries
[An alternative question: What explains Argentina's regress from riches to rags?]
Use the firm's long-run cost-minimizing decision rule to explain the differences in the relative use of capital and labor in agriculture in the United States and the Peoples Republic of China
What will be an ideal response?
Each of the following is a provision of the 1996 welfare reform law except that
A. lifetime welfare benefits would be limited to five years. B. each state receives a lump sum to run its own welfare and work programs. C. any adult found guilty of a felony would be removed from the welfare rolls. D. future legal immigrants are banned from welfare assistance.