Speculators who expect a corn harvest next fall much larger than anyone now anticipates will
A) lower current corn prices and raise September prices above what they would be in the absence of the speculators.
B) lower current corn prices and lower September prices below what they would be in the absence of the speculators.
C) raise current corn prices and lower September prices below what they would be in the absence of the speculators.
D) raise current corn prices and raise September prices above what they would be in the absence of the speculators.
E) raise the expected September price of corn.
Question 2
The data in the above table demonstrates that gains from trade can be captured if
A) the United States produced both goods.
B) the United States produced steel in exchange for concrete produced in France.
C) the United States produced concrete in exchange for steel produced in France.
D) each country became self-sufficient, produced both goods for itself, and did not engage in trade.
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Fall
Fall
Response of corn selected for high and low oil content over 76 generations
Early growth of corn (Zea mays), a typical monocot.
Early growth of corn (Zea mays), a typical monocot.