The price of mozzarella cheese, which is used in making pizza, increases. In the market for pizza you would expect that
A. the supply of pizza would increase and the price of pizza would decrease.
B. the supply of pizza would decrease and the price of pizza would increase.
C. the demand for pizza would increase and the price of pizza would increase.
D. the demand for pizza would decrease and the price of pizza would fall.
Answer: B
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A voting procedure in which each voter ranks alternatives and awards more points to higher-ranked alternatives and fewer points to lower-ranked alternatives,
and the alternative which receives the most total points from all voters wins, is known as the A) Borda-count method. B) Condorcet method. C) instant runoff method. D) plurality-rule method
Refer to Figure 13-1. Ceteris paribus, an increase in the value of the domestic currency relative to foreign currencies would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
A mutual fund that is organized as a limited partnership with high minimum investments is called a
A) hedge fund. B) investment bank. C) mutual savings bank. D) money market mutual fund.
The short run:
A. means the firm cannot increase or decrease at least one of its inputs. B. means that output cannot be changed. C. means the price of output is fixed. D. All of these are true.