Nick is delighted to see that the price of his favorite food, black olives, has fallen. Which of the following could be responsible?
a. an increase in the demand for black olives
b. a decrease in the supply of black olives
c. a simultaneous increase in demand and decrease in supply of black olives
d. a simultaneous decrease in demand and increase in supply of black olives
d
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In the simple circular flow
A) producers trade goods and services for monetary payments in the product market. B) consumers trade resources for goods and services in the factor market. C) businesses trade goods and services for resources in the product market. D) consumers trade goods and services for monetary payments in the factor market.
If the interest rate on Japanese yen assets falls while interest rates in the United States remain constant, the
A) quantity of dollars demanded will increase. B) quantity of dollars demanded will decrease. C) demand for dollars will increase. D) demand for dollars will decrease.
The above figure shows the demand and cost curves facing a monopoly. A $100 per unit tax would raise price by
A) $100. B) $50. C) $25. D) $0.
Along a production possibilities curve showing capital and consumption goods production, which of the following pairs are being held fixed?
a. Unemployment and capital goods production. b. Number of resources and consumption goods production. c. Composition of the economy's output and number of resources. d. Capital and consumption goods production. e. Technology and number of resources.