In 2015, the price of peanuts was rising, which led peanut butter buyers to expect the price of peanut butter would rise in the future
Consequently, in the current market for peanut butter there was ________ which resulted in ________ in the price of peanut butter and ________ in the quantity of peanut butter. A) an increase in demand for peanut butter; an increase; an increase
B) an increase in supply of peanut butter; a decrease; an increase
C) a decrease in demand for peanut butter; a decrease; a decrease
D) a decrease in supply of peanut butter; an increase; a decrease
A
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A) a proprietorship. B) a partnership. C) a corporation. D) either a proprietorship or a partnership, depending on other information.
In the classical model, the level of business investment was a function of
a. only the expected profitability of investment projects. b. only the real interest rate. c. both the expected profitability of investment projects and the real interest rate. d. only the nominal interest rate. d. None of the above
The cost-output elasticity is used to measure:
A) economies of scope. B) economies of scale. C) the curvature in the fixed cost curve. D) steepness of the production function.
The aggregate demand curve depicts a negative relationship between real GDP and the general price level
a. True b. False Indicate whether the statement is true or false