A decrease in the price of a complement will shift the demand curve for a good to the left
a. True
b. False
Indicate whether the statement is true or false
False
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If people expect the foreign exchange rate for dollars to rise in the future
A) the demand for dollars today decreases. B) the demand for dollars today increases. C) the demand for dollars today is unaffected. D) there is a movement along the demand curve for dollars.
Consumers don't care which supplier they buy from in a perfectly competitive market because:
A) the outputs of the firms in a perfectly competitive market are all the same. B) the consumers have no choice regarding who they buy from. C) price is always low enough that the choice of supplier doesn't matter. D) all of the above.
An agribusiness firm that has monopsony power in a local market will buy less product at a lower price from local producers compared to a competitive market outcome.
a. true b. false
At points on the short-run aggregate supply curve, but to the right of the long-run aggregate supply curve, resources are:
A. underutilized, making it more likely that the short-run aggregate supply curve will shift down (to the right). B. overutilized, making it more likely that the short-run aggregate supply curve will shift down (to the right). C. overutilized, making it more likely that the short-run aggregate supply curve will shift up (to the left). D. underutilized, making it more likely that the short-run aggregate supply curve will shift up (to the left).