Sugar is an input used to produce cereal. Suppose that the price of sugar rises. As a result
A) the supply curve for sugar will shift to the right.
B) the supply curve for sugar will shift to the left.
C) the supply curve for cereal will shift to the right.
D) the supply curve for cereal will shift to the left.
D
Economics
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If the cross elasticity between two goods, X and Y, is positive, then we know they are
a. substitute goods b. complementary goods c. unrelated goods d. inferior goods e. normal goods
Economics
When real GDP is ________ potential output, ________ fiscal policy designed to move real GDP to the economy's potential output level will tend to make a federal budget deficit larger
a. above, expansionary b. below, contractionary c. above, contractionary d. below, expansionary
Economics