A move up, along the short-run Phillips curve represents a decrease in the unemployment rate.
Answer the following statement true (T) or false (F)
True
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Suppose you are the manager of Natural Oils, a firm that specializes in healthy skin oils. To make your oils, you purchase avocado pits from guacamole manufacturers. If the demand for guacamole increases, this will cause the production of avocado pits to ________ and the price of avocado pits to ________.
A) increase; fall B) decrease; fall C) increase; rise D) decrease; rise
Establishing a list of favored customers is an alternative rationing mechanism to price rationing.
Answer the following statement true (T) or false (F)
You would be more willing to buy AT&T bonds (holding everything else constant) if
A) the brokerage commissions on bond sales become cheaper. B) interest rates are expected to rise. C) your wealth has decreased. D) you expect diamonds to appreciate in value.
When there is excess supply of a product in a market,
a. price will tend to rise. b. price must be above the equilibrium price. c. producers will expand output and sales will rise. d. price must be below the equilibrium price.