Assume the demand for sugar decreases and the supply of sugar increases. Which of the following outcomes is certain to occur?
A. The equilibrium quantity of sugar will rise.
B. The equilibrium price of sugar will rise.
C. The equilibrium quantity of sugar will fall.
D. The equilibrium price of sugar will fall.
Answer: D
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Which of the following is not affected by the level of economic activity in a country?
a. The amount spent by entrepreneurs for the installation of new machinery b. The amount spent by consumers to buy goods and services c. The amount spent by government for the provision of social security d. The amount spent by government for the expansion of roadways
Benefits of R&D spending to foreigners may be as much as 1/4 of the total value of the spending
Indicate whether the statement is true or false
Upon graduation, Shawntae had two job offers. The jobs were identical in every way with two exceptions. One job was located in Ft. Lauderdale, FL and offered an annual salary of $95,000. The other job was located in Tulsa, OK and offered an annual salary of $72,000. All else equal, the salary difference is due to
A. compensating differentials. B. discrimination. C. the firm in Florida had a lower demand for workers than the firm in Oklahoma. D. transfer payments
The formula ?q/?L represents
A. the average product of labor. B. the capital-to-labor ratio. C. total product. D. the marginal product of labor.