Coffee and sugar are complements. If the supply curve of coffee shifts leftward because of poor weather, then there will be
A) an increase in the price of sugar.
B) a decrease in the price of sugar.
C) a leftward shift of the demand curve for coffee.
D) a leftward shift of the supply curve for sugar.
B
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Assume that you are currently making $15,000 a year as a sales clerk in a department store
At the end of your senior year in college in May you get a job offer from a large accounting firm that won't start until late August of that same year but which pays $45,000 per year. What would you expect might happen to your demand for an automobile and new clothes immediately and why?
A vertical aggregate supply curve implies __________ Phillips curve
A) an upward-sloping B) a downward-sloping C) a vertical D) a horizontal
Ceteris paribus, an increase in the number of sellers of running shoes causes equilibrium price to
A. Increase and equilibrium quantity to increase. B. Increase and equilibrium quantity to decrease. C. Decrease and equilibrium quantity to increase. D. Decrease and equilibrium quantity to decrease.
"Because the outputs of many industries are the inputs to other industries, the failure of any single industry to fulfill the output quantities specified in the central plan caused a chain reaction of adverse repercussions on production." This quotation
best identifies the: A. incentive problem under central planning. B. self-sufficiency dilemma under communism. C. resource overcommitment problem under communism. D. coordination problem under central planning.