When productivity increases in the production of agricultural products, the supply curve for agricultural products shifts rightward
Indicate whether the statement is true or false
True
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When the price of a bagel rises from $0.45 to $0.65, the quantity of cream cheese demanded falls from 12,000 to 10,000 ounces per year. Use the midpoint formula to calculate the cross-price elasticity between bagels and cream cheese
What does the sign imply about the relationship between these two goods?
What would happen in the market for laser eye surgery if insurance companies started to cover a portion of the price of voluntary procedures?
A) Demand and supply will both increase. B) Demand will increase, but this will not shift the supply curve. C) Supply will increase, but this will not shift the demand curve. D) Demand will increase and supply will decrease.
The World Bank tracked the performance of countries that had undergone varying degrees of globalization since the 1960s. Which of the following was a conclusion of the study?
a. The process of globalization widened the gap between rich countries and poor countries. b. The growth rates of globalizing countries were higher than the growth rates of nonglobalizers. c. The fraction of the very poor increased in newly globalized economies. d. Globalization increased income inequality. e. Unemployment increased in newly globalized countries.
If households experienced greater uncertainty about their economic future, which of the following would occur in the market for loanable funds?
a. Both the supply and demand for funds would increase, lowering the interest rate and raising investment spending. b. The supply of funds would decrease, raising the interest rate and lowering investment spending. c. The supply of funds would decrease, lowering both the interest rate and investment spending. d. The supply of funds would increase, lowering both the interest rate and investment spending. e. The supply of funds would increase, lowering the interest rate and raising investment spending.