The market clearing price of corn has just increased. Which of the following could have caused this change?
A) a reduction in demand
B) a reduction in supply
C) an increase in quantity demanded
D) an increase in quantity supplied
B
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Economic analysis indicates minimum wage legislation has
a. made it possible for any teenager who wants to work to earn almost 80 percent as much as an adult. b. made it easier for teenagers to find jobs that offer the opportunity for training. c. been an important source of increases in income since most workers earn at or near the minimum wage. d. reduced the on-the-job training opportunities available to teenagers.
Assume that both the demand curve and the supply curve for DVD players shift to the left but the demand curve shifts more than the supply curve. As a result
A) both the equilibrium price and quantity of DVD players will decrease. B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease. C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will decrease. D) the equilibrium price of DVD players will increase; the equilibrium quantity may increase or decrease.
In a simple economy without government or the foreign sector, saving must equal investment because output is divided into consumption and investment, and income is either consumed or saved
Indicate whether the statement is true or false
In the monetary small open-economy model with a fixed exchange rate, an increase in the foreign price level
A) increases the domestic money supply and increases the domestic price level. B) increases the domestic money supply and decreases the domestic price level. C) decreases the domestic money supply and increases the domestic price level. D) decreases the domestic money supply and decreases the domestic price level.