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 crop
What happens to the price and quantity of apple? juice?
The quantity of apple juice might rise or fall, and the price of apple juice rises
Economics
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Explain the difference between a tariff and a quota. What impact do tariffs and quotas have on the prices of domestic and imported goods?
What will be an ideal response?
Economics
Changes in all of the following shift the LM curve except
a. the price level. b. income. c. the money supply. d. money demand. e. all of the above shift LM curve.
Economics