In the above figure, while drawing the line showing the relationship between the price of a pound of peanuts and the quantity sold, the
A) price of a pound of pecans does not change.
B) price of a pound of peanuts does not change.
C) the quantity of peanuts that farmers supply does not change.
D) Both answers A and B are correct.
E) Both answers B and C are correct.
A
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Since the beginning of the 20th century the decade with the slowest real GDP per person growth rate other than the 1930s is ________ because of the ________
A) 2000-2010; 2008/2009 deep recession B) 1930-1940; Great Depression C) 2010-2020; Keynesian economic policies being used more frequently than in the 1930s D) 1990-2000; fear of Y2K E) 2000-2010; the war on terror
What is a Lorenz curve and what does it show?
What will be an ideal response?
Suppose your uncle offers you $100 today or $150 in 10 years. You would prefer to take the $100 today if the interest rate is
a. 3 percent. b. 4 percent. c. 5 percent. d. None of the above is correct.
Behavioral economists have found that:
A. only market prices matter when people make decisions. B. people are always irrational when considering incentives. C. markets are the best way to organize mutually beneficial exchanges. D. design mechanisms must take social factors as well as price into account.