A packaged fruit juice manufacturer contracts with several farmers to buy their orchards to support a new production facility. However, a particular orchard owner later refuses to sell his farm at the price in their contract. In such a case the court will order a liquidated damage
Indicate whether the statement is true or false
F
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In which of the following examples cited in the text is there the least amount of evidence of the potential for input substitution?
A) Automobile production. B) Pipe organ production. C) French fry production. D) Production of health care services.
Trade
a. allows specialization, which increases costs. b. allows specialization, which reduces costs. c. reduces specialization, which increases costs. d. reduces specialization, which reduces costs.
The automatic stabilizers in the U.S. economy are sufficiently strong to prevent recessions
a. True b. False Indicate whether the statement is true or false
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C