An expectation of a price increase in the future would cause consumers to______ and producers to_____
a. Delay consumption; delay production
b. Delay production; accelerate production
c. Accelerate consumption; delay production
d. Accelerate consumption; accelerate production
c
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Which was a decade of high inflation and high unemployment?
A. the 1920s B. the 1950s C. the 1960s D. the 1970s
The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the U.S. dollar ________ against the Euro and ________ against the Japanese yen
A) depreciated; depreciated B) appreciated; appreciated C) appreciated; depreciated D) depreciated; appreciated
Which of the following is associated with global poverty?
A. Low infant mortality rates. B. Lack of health care. C. Immunization against preventable diseases. D. Opportunities for education.
When demand is elastic, a fall in price causes total revenue to rise because
A) when price falls, quantity sold increases so total revenue automatically rises. B) the increase in quantity sold is large enough to offset the lower price. C) the percentage increase in quantity demanded is less than the percentage fall in price. D) the demand curve shifts.