An increase in the supply of corn in Brazil will
A. shift the supply curve of US corn to the right.
B. shift the supply curve of US corn to the left.
C. shift the demand curve for US corn to the right.
D. shift the demand curve for US corn to the left.
Ans: D. shift the demand curve for US corn to the left.
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Which of the following futures contracts is available on the various commodity exchanges in the United States?
A) Treasury bond futures B) Investment-grade bonds C) Over-the-counter stocks D) U.S. savings bonds
When one person knows more than another, it creates a situation:
A. in which the transaction is always regretted. B. called information asymmetry. C. in which the transaction will not occur. D. called information dominance.
Which of the following statements best describes consumer surplus in the supply and demand model?
a. Consumer surplus is the area in the supply and demand model that is above the market price and above the demand curve. b. Consumer surplus is the area in the supply and demand model that is below the market price and below the demand curve. c. Consumer surplus is the area in the supply and demand model that is above the market price and below the demand curve. d. Consumer surplus is the area in the supply and demand model that is below the market price and above the demand curve.
In contrast to the need for legal enforcement under a system of direct controls, a taxes approach
a. is subject to greater uncertainty of payment of fees. b. makes taxes automatic and certain. c. speeds the prosecution and conviction process. d. does not actually reduce pollution, merely the cost of monitoring it.