Related to the Economics in Practice on p. 67: Increased preference for quinoa would shift the ________ curve for quinoa to the right and lead to a(n) ________ in the price of quinoa, ceteris paribus.
A. demand; increase
B. supply; decrease
C. demand; decrease
D. supply; increase
Answer: A
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An informal definition of a recession is at least ________ consecutive quarters of declining real GDP.
A. six B. eight C. two D. four
The Taylor rule links the Federal Reserve's target for the
A) federal funds rate to the money supply. B) money supply to changes in interest rates. C) federal funds rate to economic variables. D) money supply to shifts in money demand.
Which of the following countries imposes significant tariffs on its agricultural exports?
A) Argentina B) The U.S. C) Canada D) France.
The law of diminishing marginal utility states that as additional units are consumed, satisfaction per unit will decline
a. True b. False Indicate whether the statement is true or false