Refer to Figure 3-5. At a price of $5, the quantity sold
A) is 2 units. B) is 4 units.
C) is 6 units. D) cannot be determined.
A
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In the past few centuries, choices have led to a substantial decline in the standards of living around the globe.
Answer the following statement true (T) or false (F)
If the risk on foreign government bonds increases relative to U.S. government bonds, the price of U.S. government bonds should:
A. increase as the demand for these bonds increases. B. decrease since people will bail out of all government bonds. C. not be affected because the two types of bonds are traded in different markets. D. not change since U.S. government bonds are free of default risk.
Which of the following would most likely cause the supply of wheat to increase?
What will be an ideal response?
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.