An increase in demand for oil along with a simultaneous increase in supply of oil will:
A. Decrease price and increase quantity
B. Increase price and decrease quantity
C. Increase quantity, but whether it increases price depends on how much each curve shifts
D. Increase price, but whether it increases quantity depends on how much each curve shifts
C. Increase quantity, but whether it increases price depends on how much each curve shifts
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Globalization ________ the wages of workers in the exporting industries and ________ the wages of workers in the import-competing industries.
A. lowers; raises B. raises; does not change C. raises; raises D. raises; lowers
Liquidity is the ease with which an asset can be converted into the economy’s medium of exchange.
Answer the following statement true (T) or false (F)
You are a hotel manager considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table. ProjectBoom (50%)Recession (50%)A$40-$20B-$10$30C$50-$50D$60$60The expected value of project A is:
A. $20. B. $10. C. $5. D. None of the answers are correct.
The failure of the McDonald's Arch Deluxe burger was an example of:
A. economic profit. B. consumer sovereignty. C. an increase in demand. D. technological advances.