Author Question: In 2014, the price of peanuts was rising, which led peanut butter sellers and peanut butter buyers ... (Read 211 times)

B · **on:** Jun 29, 2018

In 2014, the price of peanuts was rising, which led peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. In the current market for peanut butter, the price rises and the quantity increases.

This set of results means that A) demand increased by more than supply decreased.
B) supply decreased by more than demand increased.
C) demand increased by more than supply increased.
D) supply decreased by more than demand decreased.

Question 2

When profits are the result of pure luck, they can be distinguished from profits attributable to correct predictions by

A) asking the people who profited.
B) finding out whether the profits were earned through effort.
C) no known empirical criteria.
D) whether or not they were generally anticipated.