Ag. Econ Exam 2 mid-term

Which of the following is NOT a demand curve shifter for hamburger

Assume two goods, beer and nuts. If the price of beer increases the consumption of nuts will

What characteristic is indicative of oligopolies

Gross domestic product GPD is defines as

Utility is a measure of consumers

A change in each of the following would cause a shift in the demand curve for Pepsi EXCEPT

In a perfectly competitive, long – run equilibrium, the price of the product is equal to the

When a commercial bank borrows required reserves from the Fed the interest rate is paid is

A change in which of the following would NOT cause a supply shift

The demand for which of these goods is most inelastic

Cost structures are the same for

The defining characteristic of a monopoly is

The short-run supply curve of a firm

Which of the following is NOT a demand shifter

Which of the following is not a good or service

The total value of all final goods and services sold during a period of time is the

Which of the following in NOT a final good

A change in the ______ would NOT cause a shift in the supply of yellow squash

What causes money to lose purchasing power?

In order for a monopoly to be a monopoly

Turkey is an example of a good for which

Which of the following is most clearly a final good

In a perfectly competitive market if the price of the product is greater than break- even price

As the price of a good falls, the consumer is able to buy more from a given income. This is the

Which if the following is NOT money

If the income elasticity of a good is negative, this means the good is

The most important single factor that influences the elasticity of supply for a commodity is

Our currency in the United States is fiat currency. Fiat means

When the price of chicken goes up, the quantity consumed of beef goes down. This is..

If the Fed wished to stimulate the economy it should_the discount rate and _bonds on the market

If the Fed increased the discount rate, ceteris paribus, we would expect

The supply curve of a firm is equal to the

The market for money is like any other market with supply and demand. The equilibrium price is

“New” money in the commercial banking system is

An example of a good for which the demand elasticity changes as different times of the year is

In a perfectly competitive market, if firms are earning economic profits then