If ethanol production is expected to increase the price of corn, U.S. farmers will likely

A) shift the supply of corn to the left.
B) shift the supply of corn to the right.
C) reduce the production of corn by sliding down the corn supply curve, all else equal.
D) increase the production of corn by sliding up the corn supply curve, all else equal.

D

Economics

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The economy is at full employment. If aggregate demand increases,

A) an inflationary gap is created and the AS curve shifts leftward as the money wage rate rises. B) an inflationary gap is created and the AD curve shifts leftward. C) an inflationary gap is created and potential GDP increases to close the ga

Economics

________ increases economic efficiency because it forces firms to produce and sell goods and services as long as the additional benefit to consumers is greater than the additional cost of production

A) Competition B) A centrally planned economy C) Equity D) Voluntary exchange

Economics