In the figure above, suppose the price of a pound of pecans is negatively related to the quantity of peanuts that farmers are willing to supply. If the price of pecans increases
A) the curve will shift rightward.
B) the curve will shift leftward.
C) there is a movement along the curve.
D) the curve will be unaffected.
B
You might also like to view...
Normal profit is a(n) ________ cost because ________
A) implicit; it represents the cost of not running another firm B) explicit; a firm must pay income taxes on its profit C) implicit; it represents the cost of economic depreciation D) accounting; wages are considered an explicit cost E) depreciation; the equipment the firm owns wears out over time
If the economy is falling below potential real GDP, which of the following would be an appropriate fiscal policy to bring the economy back to long-run aggregate supply? An increase in
A) government purchases. B) the money supply and a decrease in interest rates. C) taxes. D) oil prices.
A tax of a specific absolute sum levied on every person in the nation is a(n)
a. excise tax b. regressive tax c. progressive tax d. income tax e. proportional tax
A $500 investment has the following payoff frequency: half of the time it will pay $350 and the other half of the time it will pay $900. Its standard deviation and value at risk respectively are:
A. $275; $350 B. $625; $275 C. $125; $500 D. $275; $150