A rightward shift of a market supply curve might be caused by:
a. the entry of new firms in the industry.
b. an increase in the wages of labor employed in the industry.
c. an increase in the price of the final product.
d. a decrease in the income of consumers.
e. an increase in the supply of a substitute good.
a
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The short-run aggregate supply curve is vertical
Indicate whether the statement is true or false
The total burden of a tax equals tax collections minus excess burdens
a. True b. False Indicate whether the statement is true or false
If a positive permanent supply shock were to occur, the resulting equilibrium would be a:
A. higher level of output at lower prices. B. lower level of output and prices. C. higher level of output and prices. D. lower level of output at higher prices.
If the CPI is currently 246.3, by what percentage have prices risen since the base year?
What will be an ideal response?