Consider the market for peanut butter. If there is an increase in the price of peanuts,
A) there is a decrease in the supply of peanuts.
B) there is a decrease in the demand for peanut butter.
C) there is an upward movement along the supply curve for peanut butter.
D) there is a decrease in the supply of peanut butter.
E) the supply curve for peanuts shifts rightward.
D
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Refer to Scenario 11.1. How much would Mariana expect to pay each landowner for his or her land?
A) $200,000 B) $400,000 C) $600,000 D) $3 million
Data indicates that recessions following financial crises ________ recessions which do not follow financial crises
A) are more severe than B) are equally severe as C) are less severe than D) Data does not show any link between the severity of recessions following financial crises.
Which of the following shifts aggregate demand to the left?
a. The price level rises. b. Interest rates fall. c. The dollar depreciates for some reason other than a change in the price level. d. Stock prices fall for some reason other than a change in the price level.
If the government imposes a specific tax on a monopoly, the consumer's tax incidence
A) can exceed 100%. B) will always be between 0-100%. C) may be negative. D) will be the same as when the tax is imposed on a perfectly competitive firm.