If orange juice prices double next year, there will be a
a. rightward shift in the demand for grapefruit juice.
b. rightward shift in the supply of grapefruit juice.
c. leftward shift in the supply of grapefruit juice.
d. leftward shift in the demand for grapefruit juice.
a
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When the level of the stock market is high, investment spending tends to be high, ceteris paribus
Indicate whether the statement is true or false
If aggregate supply rises sharply so that a recession occurs, then the prescription is for expansionary fiscal policy
Select whether the statement is true or false. A. True B. False
Double coincidence of wants is a situation in which: a. a country exports the good that it can produce at minimum cost
b. a country imports a good that it cannot produce at all. c. two people each want some good or service that the other person is able to provide. d. two people each consume the goods that they can produce themselves.
Consider a firm with the following cost and revenue information: ATC = $8, AVC = $7, and MR = MC = $6 . If the firm produces Q = 60 in the short run, it
a. is minimizing losses b. makes a total loss of $60 c. should produce more output d. is making a mistake and should shut down e. is maximizing total profit