A technological improvement lowers the cost of producing corn. As a result, the price of a pound of corn ____ and the quantity of corn ____. Question 13 options:
A. falls; increases
B. falls; does not change
C. falls; decreases
D. rises; decreases
E. rises; increases
A. falls; increases
Economics
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The short-run Phillips curve shifts upward whenever:
a. inflation rises. b. a negative supply shock occurs. c. unemployment rises. d. all of the above.
Economics
In auctions, the winner always pays a price equal to the highest (his) bid
Indicate whether the statement is true or false
Economics