One factor hastening the demise of the Soviet Union was _____
a. its military alliance with Cuba
b. its attempt to keep up with the United States in an arms race
c. its inability to predict the optimal amount of defense spending
d. its strong economic output
b
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Why do people and firms in the United States supply dollars to the foreign exchange market?
What will be an ideal response?
Suppose a positive technological change in the production of disease-resistant corn caused the price of corn to fall. Holding everything else constant, how would this affect the market for wheat (a substitute for corn)?
A) The demand for wheat would decrease and the equilibrium price of wheat would decrease. B) The supply of wheat would increase and the equilibrium price of wheat would decrease. C) The demand for wheat would increase because consumers could afford to buy more wheat and corn. D) The demand for wheat would decrease and the equilibrium price of wheat would increase.