In the above figure, the movement from point C to point A is the result of
A) a decrease in the price of coffee.
B) an increase in the price of coffee.
C) a decrease in the price of gasoline.
D) an increase in the price of gasoline.
D
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In rational expectations theory, the term "optimal forecast" is essentially synonymous with
A) correct forecast. B) the correct guess. C) the actual outcome. D) the best guess.
Which economic question does the decision to give all of the butter the economy produces to the homeless answer?
a. What to produce? b. How to produce? c. For whom to produce? d. Who has a comparative advantage in butter production? e. Who has an absolute advantage in butter production?
A merger may cause movement upward along the demand curve.
Answer the following statement true (T) or false (F)
A characteristic of a public good is that a public good is provided
A) to some businesses, but not to others. B) only in some states. C) to low income residents in some states. D) to many individuals at no additional cost.