Yesterday the futures price for corn for March delivery in Chicago was $7.40/bushel and today it is $7.30/bu. Yesterday the local cash price was $6.87/bushel. Yesterday the local basis was
A. 57 cents.
B. -53 cents.
C. -43 cents.
D. 53 cents.
Ans: B. -53 cents.
Economics
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________ refer to the ordinary fluctuations of real GDP around its long-run trend
Fill in the blank(s) with correct word
Economics
Suppose the price elasticity of demand for Mexican food is 1.23 and the price elasticity of supply is 0.47. If the government imposes a tax on Mexican food, do buyers or sellers pay most of the tax? Why?
What will be an ideal response?
Economics