If the resource prices faced by a firm rise, the result is a(n)
a. decrease in supply
b. increase in supply
c. decrease in demand
d. increase in quantity demanded
e. decrease in quantity supplied
A
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Inflation occurs over time as a result of
A) long-run aggregate supply increasing faster than aggregate demand. B) long-run aggregate supply increasing faster than short-run aggregate supply. C) decreases in aggregate demand. D) aggregate demand increasing faster than long-run aggregate supply.
Assume wages paid by a firm to its workers decrease. What will be the reaction of consumers as the market moves to its new equilibrium?
A) Quantity demanded will decrease. B) Quantity demanded will increase. C) The demand curve will shift to the left. D) There will be no reaction by consumers, since input prices determine supply, not demand.
If, for a $1000 premium, you buy a $100,000 put option on bond futures with a strike price of 110, and at the expiration date the price is 114, your ________ is ________
A) profit; $1000 B) loss; $1000 C) profit; $3000 D) loss; $3000
North's (1955) theory of economic location is that of "balanced growth"—many industries in each region must advance at about the same time in order for economic growth to occur
Indicate whether the statement is true or false