Suppose that milk producers expect that the price of milk is going to drop next week. This would cause
A) a decrease in the supply of milk today.
B) an increase in the supply of milk today.
C) an increase in the demand for milk today.
D) the selling price of milk to rise today.
Answer: B
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The production possibilities frontier separates ________
A) the goods and services that people want from those that they do not want B) the types of goods that can be attained from those that can't be attained C) the quantities of goods and services that can be produced from those that cannot be produced D) the combinations of goods that people value and those that they don't
Which of the following factors has led to poor plan performance?
(a) unanticipated changes, such as in terms of trade. (b) corruption of government officials. (c) foreign firms are less subject to the constraints of the plan than domestic ones. (d) all of the above. (e) none of the above.