When economists say the quantity supplied of a product has decreased, they mean the:
a. supply curve has shifted to the left.
b. supply curve has shifted to the right.
c. price of the product has risen, and consequently, suppliers are producing more of it.
d. price of the product has fallen, and consequently, suppliers are producing less of it.
d
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Assume you pay a premium of $0.70/bu for a call option with a strike price of $6.00/bu and that the current futures price is $6.50/bu. Then, the option is:
A. In-the-money B. At-the-money C. Out-of-the-money D. Worthless
What is produced and consumed in the economy is determined jointly by
A) government policies and the economy's productive capacity. B) the economy's productive capacity and the preferences of consumers. C) the preferences of consumers and the behavior of business managers. D) the behavior of business managers and government policies.