From 1970 to 2010, the real price of eggs decreased and the total annual consumption of eggs decreased
Which of the following would cause an unambiguous decrease in the real price of eggs and an unambiguous decrease in the quantity of eggs consumed? A) A shift to the right in the supply curve for eggs and a shift to the right in the demand curve for eggs.
B) A shift to the left in the supply curve for eggs and a shift to the right in the demand curve for eggs.
C) A shift to the left in the supply curve for eggs and a shift to the left in the demand curve for eggs.
D) none of the above
D
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A nominal, bilateral exchange rate is:
a. The weighted-average value of a currency relative to many foreign currencies. b. The nominal, effective exchange rate adjusted for a nation's price level relative to many foreign countries' prices. c. The same as the nominal, effective exchange rate. d. The value of one currency in terms of another currency.
Governments contribute to increased average labor productivity in each of the following ways except by:
A. allowing the free and open exchange of ideas. B. establishing well-defined property rights. C. maintaining political stability. D. imposing taxes on wages.