More farmers have recently entered the corn industry. In addition there has been a technological advancement in the fertilizer industry providing corn farmers with a cheaper and a more effective fertilizer
In the market for corn, the effects these changes will have on the equilibrium price and quantity are A) price will increase, and quantity will decrease.
B) price will increase, and the effect on quantity is indeterminate.
C) price will decrease, and quantity will increase.
D) price will decrease, and the effect on quantity is indeterminate.
C
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According to classical macroeconomic theory, changes in the money supply change real GDP but not the price level
a. True b. False Indicate whether the statement is true or false
In one day Madison Laundry washed 4,000 pounds of laundry with 5 workers who each worked 8 hours. What was its productivity?
a. 4000 pounds of laundry b. 500 pounds of laundry per hour c. 100 pounds of laundry per hour d. None of the above is correct.
A tax on imports of foreign goods is called a(n):
A) quota. B) subsidy C) tariff. D) export restriction.
Adverse selection is a situation in which one party to an economic transaction has less information than the other party
Indicate whether the statement is true or false