Sellers who were originally willing to supply 800 units of a good at $4 per unit are now willing to supply 600 units at $4 per unit. That change would be described as:
a. an increase in supply
b. a decrease in supply.
c. an increase in quantity supplied.
d. a decrease in quantity supplied.
b
You might also like to view...
A reduction in tax expenditures _____
a. will cause tax revenues to rise b. will cause government spending on social policy to rise c. will cause inflation to rise d. will reduce the tax base
When the price of a good falls, there will be
A) an outward shift in the good's demand curve. B) both an outward shift in the good's demand curve and a movement along the good's demand curve. C) a movement along the good's demand curve. D) no change in quantity demanded.
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, if this economy were open to free trade, and decided to impose a tariff, the domestic quantity supplied would increase from:
A. 815 to 1150. B. 250 to 500. C. 815 to 1500. D. 250 to 815.
Banks create money when they:
A. allow loans to mature. B. accept deposits of cash. C. buy government bonds from households. D. sell government bonds to households.