According to the law of supply, if the price of calculators decrease, the supply of calculators will decrease, everything else held constant
a. True
b. False
Indicate whether the statement is true or false
False
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Between August 2007 and July 2008, Brazil exported more than 3.5 billion pounds of coffee to the rest of the world. Suppose the Brazilian government subsidizes the export of coffee by $0.42 per pound
Which of the following would be an outcome of this subsidy? A) Brazilian producers experience an increase in producer surplus. B) Brazilian consumers experience an increase in consumer surplus. C) Producers from the rest of the world experience a gain in producer surplus. D) Brazilian coffee exports would decrease.
Most voters choose not to be informed about political and governmental issues because they are not smart enough to really understand the issues
Indicate whether the statement is true or false
When the APS is negative
A. the APC is less than one. B. the APC is equal to one. C. the APC is greater than one. D. the APC may be less than one, one or greater than one.
What is enacted when discontented sellers, feeling that prices are too low, appeal to legislators to keep prices from falling?
A. Rent controls B. Price ceilings C. Price floors D. Subsidies