Researchers Have Found a Hybrid of Corn That Is Cheaper

question 30

Multiple Choice

Researchers have found a hybrid of corn that is cheaper to grow.This technological breakthrough

• A) increases the demand for corn.
• B) increases the supply of corn.
• C) decreases the supply of corn.
• D) Both answers A and C are correct.
• E) Both answers A and B are correct.

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Definitions:

Investment Goods

Goods that are purchased not for immediate consumption but for producing other goods or services in the future.

Classical Economists

Economists from the late 18th and 19th centuries who believed in the principles of free markets, limited government, and self-regulating behavior of the economy.

Monetarists

Economists advocating that transformations in the money supply drive significant impacts on the national output in the immediate term and on the pricing scale over the long term.

Fiscal Policy

Government policies regarding taxation and spending that are intended to influence economic conditions, including levels of employment, inflation, and economic growth.