In September, USDA estimates that for Corn, the Yield per Harvest Acre is likely to be higher than that predicted in the previous month. The change in estimate (all else equal) will:
a. Increase estimates of Production of Corn
b. Increase estimates of Total Supply
c. Decrease estimates of Ending Stocks
d. a and b are correct
e. a, b and c are correct
d. a and b are correct
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Refer to the table above. If you are told that Country B is very much richer than Country A, then the correct answer is
A) country B will export good S. B) country A will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) both countries will import good S.
Andrea invests $20,000 in tuition fees for her three years of college education. Had she worked those three years, she could have earned a total of $8,000 . Identify the correct statement from the following
a. The opportunity cost of her college education is $20,000. b. The investment cost of college consists of $20,000. c. The investment cost of her college degree is $28,000. d. The opportunity cost of her college education is $28,000.
For those workers who are given fringe benefits such as health insurance and pensions, the additional income this amounts to over and above the average hourly wage can be as much as (for some workers)
a. 10-12% b. 30-40% c. 51-62%% d. 70% or more
Recent legislation passed by the government increases the cost of health insurance and retirement benefits borne by all companies. Which of the following is a likely result? a. The supply of labor will decrease
b. The quantity of labor demanded will increase. c. The demand for labor curve will shift to the left. d. The marginal product of labor will increase.