Suppose that a new study is released stating that consumption of orange juice (a substitute for apple juice) reduces the risk of cancer, and a major freeze destroys half of the country's apple cro
A) The price of apple juice might rise or fall and the quantity of apple juice falls.
B) The quantity of apple juice might rise or fall, and the price of apple juice rises.
C) The price of apple juice falls and the quantity of apple juice falls.
D) The price of apple juice might rise or fall and the quantity of apple juice rises.
A
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Refer to the above figure. Perfect income equality is shown by
A) the horizontal axis. B) the vertical axis. C) curve A. D) curve D.
Answer the following questions true (T) or false (F)
1. An increase in the real interest rate will decrease consumption and investment. 2. Retained earnings are always sufficient to finance a firm's rapid expansion in a high-growth economy. 3. Financial markets and financial intermediaries comprise the financial system.