The demand for corn increases. As a result, the price of corn will ________, and the less elastic the supply of corn, the ________ will be the effect on the price.
A: fall; smaller
B: fall; greater
C: rise; smaller
D: rise; greater
A: fall; smaller
B: fall; greater
C: rise; smaller
D: rise; greater
举一反三
- Which of the following would increase the supply of corn? A: a decrease in the price of wheat B: an increase in the price of pesticides C: a severe drought in the corn belt D: a decrease in the demand for corn E: a fall in the price of corn
- The description of the process of "the corn failure caused the<br/>corn market price to rise" () A: The decrease in corn supply has caused a decrease in corn demand. B: The decrease in corn supply has caused a decrease in corn qantity<br/>demanded. C: The decrease in corn supply has caused a decrease in corn demand. D: The decrease in the quantity supplied of corn causes a decrease in<br/>the quantity demanded for corn.
- According to quantity equation the price level would change less the proportionately with a rise in the money supply if there were also A: either a rise in output or a rise in velocity. B: either a rise in output or a fall in velocity. C: either a fall in output or a rise in velocity. D: either a fall in output or a fall in velocity.
- As a result of running high temperature this summer in the south of China, the corn crop declined sharply. If corn growers experienced an increase in sales revenue, the demand for corn must be ( ) A: price elastic. B: price inelastic. C: unitary elastic. D: perfectly inelastic.
- 以下各句正确的是__________。 A: An increase in demand is likely to cause a rise in prices. B: Increases in demand usually lead price increases. C: If demand increases; as a result, prices tend to rise. D: Increases in price are often resulted by increases in demand.