In 2014, the price of peanuts was rising, which lead peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. In the current market for peanut butter, the price falls and the quantity decreases
This set of results means that A) supply decreased by more than demand increased.
B) demand increased by more than supply decreased.
C) demand increased by more than supply increased.
D) supply decreased by more than demand decreased.
A
You might also like to view...
If population growth occurs while jobs are difficult to obtain or labor force participation does not increase
A) there may be little or no increase in a nation's labor resources. B) per capita GDP is likely to increase sharply. C) economic growth will be robust because any population gain is a plus. D) a nation's labor resources will still continue to increase in both quality and quantity.
The purchasing power parity theory is useful in making ____ predictions about exchange rates and their fluctuations
a. long-run b. intermediate-run c. medium-run d. short-run
When voluntary trade takes place,
A. both parties can benefit from the transaction. B. one party can benefit at the expense of the other. C. neither party can benefit from trade. D. both parties can benefit but only if the government regulates the transaction.
Figure 17-9
Refer to . The amount of revenue collected by the government from the tariff is
a.
$200.
b.
$400.
c.
$500.
d.
$600.