In the figure above, Gap maximizes its profit if it sells ________ jackets per day

What happens to the intrinsic value of a call option that is out of the money if the price of the underlying futures contract declines?

A. The intrinsic value decreases. B. The intrinsic value remains zero. C. The intrinsic value remains equal to the time value. D. The intrinsic value increases.

If a hurricane were to wipe out the majority of the eastern seaboard in the United States:

A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.