Deflation refers to time periods when the buying power of money in terms of goods and services decreases

Allocative efficiency occurs when it is

A) possible to produce more of one good without giving up the production of some other good. B) possible to produce more of all goods. C) not possible to produce more of one good without giving up the production of some other good that is valued less highly. D) not possible to produce more of one good without giving up the production of some other good that is valued more highly.

A decrease in the cost of nitrogen fertilizer will

A. shift the supply curve of US corn to the right. B. shift the demand curve of US corn to the left. C. shift the demand curve for US corn to the right. D. shift the supply curve for US corn to the left.