All Shredded Wheat Producers Have Decided to Add a New

question 57

Multiple Choice

All shredded wheat producers have decided to add a new ingredient, the "crunch enhancer" to shredded wheat. Crunch enhancer keeps cereals crisper longer in milk and, as a result, consumers decide they like shredded wheat more than before. What happens to the supply and demand curves for shredded wheat now that it costs more to produce and consumers like it better?

• A)The supply and demand curves both shift rightward.
• B)The supply curve shifts rightward and the demand curve remains unchanged.
• C)The supply curve shifts leftward and the demand curve shifts rightward.
• D)The supply curve shifts leftward and the demand curve remains unchanged.
• E)Neither curve changes but a movement occurs up along the demand curve and a movement occurs up along the supply curve.

Assess the effectiveness of export promotion policies and industrial policies in economic development.

Identify the relationship between a country's development level and its economic structure (including its agricultural output).

Explain the impact of capital availability on labor productivity and economic growth.

Understand the concepts of dependent and independent variables and their roles in scientific experiments.

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Definitions:

Unions

Organizations formed by workers to protect their rights and interests through collective bargaining.

Big Corporations

Large and influential companies that possess substantial market power and resources, often operating on a global scale.

Old Age Pension

A regular payment made by a government or a financial institution to individuals who have reached retirement age.

Nationwide

Extending across or pertaining to an entire nation or country.