If a higher price for wheat decreases the quantity of corn being produced, which of the following describes what has occurred?
A) The supply of wheat increased and the supply of corn decreased.
B) The quantity of wheat supplied increased and quantity of corn supplied decreased.
C) The supply of wheat increased and the quantity of corn supplied decreased
D) The quantity of wheat supplied increased and the supply of corn decreased.
E) The supply of wheat decreased and the supply of corn decreased.
D
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What was the Federal Trade Commission (FTC), established in 1914, created to enforce?
(a) U.S. foreign trade (b) The maritime code (c) The Interstate Commerce Act (d) The antitrust laws
When MR = MC
A) marginal profit is maximized. B) total profit is maximized. C) marginal profit is positive. D) total profit is zero.
If market interest rates increase, the prices of existing bonds will
A) decrease. B) not change. C) increase. D) decrease if Real GDP decreases and increase if Real GDP increases.
Keynes argued that policy levers were both effective and necessary.
Answer the following statement true (T) or false (F)