If Ethanol Production Is Expected to Increase the Price of Corn,U.S.farmers

question 49

Multiple Choice

If ethanol production is expected to increase the price of corn,U.S.farmers will likely

• A) shift the supply of corn to the left.
• B) shift the supply of corn to the right.
• C) reduce the production of corn by sliding down the corn supply curve, all else equal.
• D) increase the production of corn by sliding up the corn supply curve, all else equal.

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Definitions:

Generalization

The tendency to respond in the same way to different but similar stimuli, often used in learning theories.

Categorization

The mental process of grouping similar items or ideas together to organize them efficiently.

Discrimination

Discriminatory behavior towards various categories of individuals or things, mainly due to their race, age, or sex.

Biofeedback

A therapeutic technique that teaches individuals to control bodily processes that are normally involuntary, such as heart rate or blood pressure, through the use of electronic or other instruments.