From 1970 to 2010, the real price of eggs decreased. Which of the following would cause an unambiguous decrease in the real price of eggs?
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 right in the supply curve for eggs and a shift to the left in the demand curve for eggs.
C) A shift to the left in the supply curve for eggs and a shift to the right in the demand curve for eggs.
D) A shift to the left in the supply curve for eggs and a shift to the left in the demand curve for eggs.
B
You might also like to view...
If Brazil voluntarily ships coffee to the United States in return for airplanes,
a. Brazil will benefit, but the United States will lose. b. one of the two nations will benefit and the other nation will lose since the trade does not increase the physical quantities of coffee and airplanes available. c. both Brazil and the United States will benefit since the trade allows each nation to acquire items. d. both Brazil and the United States will lose since there is no increase in the production of coffee or airplanes and the trade will involve certain transaction costs.
Compensating differences in wages, pay workers for:
A. differences in worker training and skills. B. differences in the nonmonetary characteristics of jobs. C. geographic immobility. D. discrimination in hiring and firing.