Which of the following examples would most likely result in a decrease in supply?
a. A warm spell causes cotton to ripen early.
b. A new manufacturing methods speeds bicycle production.
c. A flood has a devastating effects on the tea crop.
d. A new irrigation method spurs alfalfa yields.
c. A flood has a devastating effects on the tea crop.
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
The wages for Nike workers increases. At the same time, we see the price for Adidas shoes increase. How does this affect the market for Nike shoes?
a. The demand curve will shift to the left; the supply curve will shift to the left b. The demand curve will shift to the left; the supply curve will shift to the right c. The demand curve will shift to the right; the supply curve will shift to the left d. The demand curve will shift to the right; the supply curve will shift to the right
A quota is a:
a. tax on a specific quantity of imported goods. b. limited number of foreign firms that can sell imported goods. c. restrictive health and safety standard that raises costs. d. tax on domestic producers so that they can make higher profits. e. limit on the quantity of a good that can be imported.
The balance of payments is an accounting statement that shows, between one nation and the rest of the world, the
a. total values of goods, services, and payments flows. b. value of payments flows only. c. value of goods and services flows only. d. value of international investments flows only.