Suppose we observe a decrease in the equilibrium price of tuna and an increase in the equilibrium quantity of tuna. This is best explained by:
A. a decrease in the cost of fuel used by tuna fishing boats.
B. a decrease in the expected future price of tuna.
C. an increase in the price of salmon, a substitute for tuna.
D. a decrease in the tuna population in the oceans.
Answer: A
Economics
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Figure 10.3 United States Government Source of Funds and Outlays, Fiscal 2011
What will be an ideal response?
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