The figure above shows the demand for fruit snacks. Which movement reflects an increase in income if fruit snacks are a normal good?
A) from point a to point e
B) from point a to point b
C) from point a to point c
D) from point a to point d
D
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Suppose that the market for coffee is in equilibrium at a price of $9.50 per pound and a monthly quantity of 20 million pounds. News of a drought in Brazil arrives so that people know that the supply of coffee months from now will be sharply reduced
What, if anything, will happen in the coffee market now? Explain. What will be an ideal response?
Which of the following is the formula for the potential growth rate?
A. The short-term growth rate plus the long-term aggregate productivity growth rate B. The short-term growth rate plus the long-term productivity growth rate C. The short-term aggregate growth rate minus the long-term productivity growth rate D. The long-term labor force growth rate plus the long-term productivity growth rate