« previous next »

Author Question: Skippy loves peanut butter. Skippy reads on the internet that 75 percent of the peanut crop in the ... (Read 110 times)

Themember4

  • Hero Member
  • *****
  • Posts: 538
on: Jun 30, 2018
Skippy loves peanut butter. Skippy reads on the internet that 75 percent of the peanut crop in the South has been wiped out by drought, and that this will cause the price of peanuts to more than double by the end of the year. As a result,
 a. Skippy's demand for peanut butter will increase, but not until the end of the year.
  b. Skippy's demand for peanut butter increases today.
 c. Skippy's demand for peanut butter decreases as he considers buying almond butter.
  d. Skippy's demand for peanut butter shifts left today.

Question 2

The SRAS curve is ____ with real output levels that ____.
 a. upward sloping; vary positively with the price level
 b. upward sloping; vary negatively with the price level
 c. vertical; are equal to the natural level of real output at all price levels
 d. vertical; can be either greater than or less than the natural level of real output


T4T

  • Sr. Member
  • ****
  • Posts: 348
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Themember4

  • Hero Member
  • *****
  • Posts: 538
Reply #2 on: Jun 30, 2018
Thank you


T4T

  • Sr. Member
  • ****
  • Posts: 348
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Identical twins share 100 percent of their segregating genes. Identical twins share 100 percent of their segregating genes.
How to solve any percent change problem How to solve any percent change problem
Cocoa butter melts at body temperature Cocoa butter melts at body temperature
Percent of Selected Foods and Beverages Consumed in the United States Percent of Selected Foods and Beverages Consumed in the United States
Clarified butter Clarified butter
Daniel's Enterprises has a beta of 1.98 and a growth rate of 12 percent. The stock is ... Daniel's Enterprises has a beta of 1.98 and a growth rate of 12 percent. The stock is ...
Video: Electromagnetic Spectrum, Chlorophyll and Pigment & Light

For a complete list of videos, visit our video library