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Author Question: Other things remaining the same, a fall in the price of peanuts will ________. A. increase the ... (Read 23 times)

nelaaney

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on: Jun 29, 2018
Other things remaining the same, a fall in the price of peanuts will ________.
 
  A. increase the supply of peanuts
  B. decrease the supply of peanut butter
  C. decrease the quantity supplied of peanuts
  D. decrease the supply of peanuts

Question 2

Suppose that last year the unemployment rate was 5 percent and the inflation rate was 2.5 percent. If the natural rate of unemployment is 5 percent, how do you expect inflation to change?
 
  What will be an ideal response?


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helenmarkerine

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C A fall in the price of the good creates a movement along the supply curve and decreases the quantity supplied.

Answer to Question 2

Inflation is stable when the unemployment rate is equal to the natural rate of unemployment. Since last year's unemployment rate was equal to the natural rate of unemployment, the inflation rate should not change.


nelaaney

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

kjohnson

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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