Which of the following could cause the supply of carrots to decrease?
a. Consumers' incomes decrease.
b. There is a technological advance in carrot production.
c. Fertilizer costs increase.
d. The number of farmers growing carrots increases.
e. The price of carrots decreases.
c
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"The distribution of income should be determined by the government" is an example of a normative economic statement
Indicate whether the statement is true or false
The interest rate thought to have the most important impact on aggregate demand is the
A) short-term interest rate. B) T-bill rate. C) rate on 90-day CDs. D) long-term interest rate.
Two firms, each producing different goods, can achieve a greater output than one firm producing both goods with the same inputs. We can conclude that the production process involves
A) diseconomies of scope. B) economies of scale. C) decreasing returns to scale. D) increasing returns to scale.
Which of the following bonds has the highest interest rate?
a. a high credit risk and a short term. b. a low credit risk and a short term. c. a long term and a high credit risk. d. a long term and a low credit risk.