Orange juice drinkers want to consume more orange juice at a lower price. Which of the following events would have this effect?
A) a decrease in the population
B) a decrease in the price of orange juice processing
C) an increase in the cost of fertilizer used for orange groves
D) a decrease in income, assuming orange juice is a normal good
B
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The labor-market-supply curve illustrates that, as the wage rate increases, the number of hours that each person is willing and able to work rises
a. True b. False Indicate whether the statement is true or false
During the 2008 financial crisis velocity decreased. This means that the rate at which money changed hands
a. decreased. Other things the same, a decrease in velocity decreases the price level. b. decreased. Other things the same, a decrease in velocity increases the price level. c. increased. Other things the same, an increase in velocity decreases the price level. d. increased. Other things the same, an increase in velocity increases the price level.