Dairy farmers hold an annual Capitol Hill ice cream social that provides free ice cream for congressional staffers during which time representatives from the industry discuss issues with, and provide information to, congressional staff. This is an example of

In 2006, hurricanes damaged many parts of Texas, destroying homes, businesses, schools, and infrastructure. In strictly economic terminology, these hurricanes are said to have caused

A) scarcity, because the damages made food and shelter scarce. B) scarcity, because some goods were difficult to get. C) shortages, because supplies were cut off and goods were destroyed. D) tradeoffs, because some areas of the country were damaged when others were not.

A fall in the price level

A) increases the real value of money balances, which causes borrowing to decrease, leading to a decrease in investment and total planned real expenditures. B) causes exports to rise and imports to fall, leading to an increase in total planned real expenditures. C) leads to an increase in total planned real expenditures because of the indirect effect. D) causes total planned real expenditures to increase as long as the fall is less than the fall in the price level in other countries.