Refer to the four graphs above. Select the graph that best shows the changes in demand and supply in the market specified in the following situation: the market for corn, if gasoline producers use more ethanol from corn and good weather during the growing season yields a bumper harvest.
What will be an ideal response?
graph a
You might also like to view...
Which of the following federal agencies is engaged in social regulation?
A) Equal Employment Opportunity Commission B) Office of the Comptroller of the Currency C) the Securities and Exchange Commission D) Federal Deposit Insurance Corporation
When oligopolists join together in a cartel, they
A. have chosen to ignore interdependence. B. have admitted that their behavior is interdependent. C. are planning to violate the law of supply and demand. D. are trying to behave like perfect competitors.
As the money supply increases, interest rates _______ and aggregate demand shifts to the _______.
A. Increase; left B. Increase; right C. Decrease; left D. Decrease; right
In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Short-run equilibrium output in this economy equals:
A. 1,440. B. 1,000. C. 1,160. D. 1,280.