Refer to the data. If the price in this market was $4:
Answer the question on the basis of the given supply and demand data for wheat:
A. the market would clear; quantity demanded would equal quantity supplied.
B. buyers would want to purchase more wheat than is currently being supplied.
C. farmers would not be able to sell all their wheat.
D. there would be a shortage of wheat.
C. farmers would not be able to sell all their wheat.
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The three players in the money supply process include
A) banks, depositors, and the U.S. Treasury. B) banks, depositors, and borrowers. C) banks, depositors, and the central bank. D) banks, borrowers, and the central bank.
Suppose a senior college football player approaches an insurance company and seeks to purchase an insurance policy against him receiving a career-ending injury. The insurance company
A) will sell him an insurance policy because the proposal entails uncertainty not risk. B) will sell him an insurance policy because the proposal entails risk not uncertainty. C) will not sell him an insurance policy because the proposal entails uncertainty not risk. D) will not sell him an insurance policy because the proposal entails risk not uncertainty.
What is the difference between the accountant's concept of profit and the economist's view of profit?
According to liquidity preference theory, if the quantity of money supplied is greater than the quantity demanded, then the interest rate will
a. increase and the quantity of money demanded will decrease. b. increase and the quantity of money demanded will increase. c. decrease and the quantity of money demanded will decrease. d. decrease and the quantity of money demanded will increase.