Growers expect that the price of a bushel of wheat will increase in one month. This belief results in
A) an increase in current supply of wheat.
B) a decrease in current supply of wheat.
C) a decrease in future supply of wheat.
D) no change in current or future supply of wheat.
B
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Economic theory states that the optimal depletion rate will
a. Imply the extraction of all of a resource now as long as interest rates are positive b. Increase as the discount rate is raised c. Decrease as the discount rate is raised d. Always ignore benefits to future generations e. Always create excessive pollution
The demand curve for high-skilled labor lies to the right of the demand curve for low-skilled labor because
A) there are more high-skilled workers than low-skilled workers. B) high-skilled workers require more compensation to convince them to work than do low-skilled workers. C) high-skilled labor is more productive than low-skilled labor. D) firms need not be concerned with the minimum wage in the market for high-skilled labor.