In the above figure, a price of $15 per dozen for roses would result in
A) equilibrium.
B) a shortage.
C) a surplus.
D) downward pressure on prices.
B
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What is an accurate implication resulting from an increase in income?
A) an increase in exchange rate B) a decrease in exchange rate C) a decrease in consumption D) a decrease in output E) an increase in consumption
Which one of the following statements is the MOST accurate? By the year 1932, the United States
A) and Canada alone held more than 70 percent of the world's monetary gold. B) and Germany alone held more than 70 percent of the world's monetary gold. C) and Britain alone held more than 70 percent of the world's monetary gold. D) Britain, and France alone held more than 70 percent of the world's monetary gold. E) and France alone held more than 70 percent of the world's monetary gold.
Marginal product is:
A. total product divided by the number of workers employed. B. the increase in total cost attributable to the employment of one more worker. C. the increase in total output attributable to the employment of one more worker. D. the increase in total revenue attributable to the employment of one more worker.
If predictions that the world will run out of oil or petroleum in the next century become true, then:
A. The world would run out of energy B. Alternative sources would become viable C. Economies would grind to a halt D. Population will decline due to starvation