If a sailboat manufacturer has an agreement with the firm that produces the sails for the sailboats, this is an example of a ________ agreement.
A) horizontal B) rightward C) vertical D) leftward
C) vertical
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If a higher price for wheat decreases the quantity of corn being produced, which of the following describes what has occurred?
A) The supply of wheat increased and the supply of corn decreased. B) The quantity of wheat supplied increased and quantity of corn supplied decreased. C) The supply of wheat increased and the quantity of corn supplied decreased D) The quantity of wheat supplied increased and the supply of corn decreased. E) The supply of wheat decreased and the supply of corn decreased.
The additional utility that George receives from consuming one more slice of pizza is called
A) diminishing utility. B) total utility. C) average utility. D) marginal utility.
Explain two concepts of central bank independence. Is the Fed politically independent? Why do economists think central bank independence is important?
What will be an ideal response?
If the demand for oranges falls, as a result, it is highly likely that the demand for:
A. orange juice will fall. B. orange grove workers will fall. C. apples will increase. D. apple orchard workers will decrease.