Studies Have Shown That Drinking One Glass of Red Wine

question 196

Multiple Choice

Studies have shown that drinking one glass of red wine per day may help prevent heart disease.Assume this is true,and a fungal disease destroys a large portion of the grape harvest of California vineyards.In the market for red wine,these two developments would

• A)increase demand and increase supply,resulting in an increase in the equilibrium quantity and a decrease in the equilibrium price of red wine.
• B)increase demand and decrease supply resulting in a decrease in both the equilibrium quantity and the equilibrium price of red wine.
• C)increase demand and decrease supply,resulting in an increase in the equilibrium price and an uncertain effect on the equilibrium quantity of red wine.
• D)increase demand and decrease supply,resulting in an increase in both the equilibrium price and the equilibrium quantity of red wine.

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Motor Oil Sales

Motor oil sales pertain to the commercial activity of selling motor oil, a lubricant used in internal combustion engines to reduce friction and clean the engine.

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A prediction or estimate of a future event or trend, based on current and historical data analysis.

Time Series

Sequentially ordered points of data recorded over intervals of time, analyzed to understand the underlying patterns for forecasting future trends.

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Values adjusted using exponential smoothing, a technique that reduces the impacts of deviations in data by giving more weight to recent observations.