Speculators who believe the world-wide demand for cocoa products is going to increase enormously next year will cause
A) less cocoa to be consumed next year.
B) less cocoa to be consumed this year.
C) less cocoa to be produced next year.
D) less cocoa to be produced this year.
E) none of the above since speculation only affects price.
B
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Disposable personal income equals personal income
A) minus personal tax payments plus government transfer payments. B) plus government transfer payments. C) minus personal tax payments. D) minus government transfer payments plus personal tax payments.
Under ERM 2 rules, the national central bank of an EU member with its own currency can suspend euro intervention operations
A) if there is a civil war. B) if they result in money supply changes that threaten to destabilize the domestic price level. C) if there is a current account deficit. D) if there is a current account surplus. E) if they result in a weakened current account.
Carol has just purchased a cereal she saw advertised on TV because of the health benefits contained in the ad. The TV ad is an example of
A) mass marketing. B) direct marketing. C) indirect marketing. D) interactive marketing.
Which of the following economic theories favors an active role for government in promoting low inflation and economic growth?
a. New Keynesian b. Monetarists c. New classical economists d. Classical economists e. Marxists