What impact would a severe drought that destroys the wheat crop in several areas of the United States have on the market for wheat?
a. The supply of wheat would fall.
b. The supply of wheat would rise.
c. The demand for wheat would fall.
d. The demand for wheat would rise.
A
Economics
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If the opportunity cost of entrepreneurship increases:
A) the aggregate demand in the economy increases. B) the number of entrepreneurs in the economy will increase. C) the price level in the economy falls. D) the aggregate output of the economy will decrease.
Economics
Compared to an economy's self-correcting mechanism, active contractionary fiscal policy will
a. work more slowly and calmly. b. work more quickly. c. have less deflationary effects. d. have a smaller effect on real GDP.
Economics