An increase in supply of a product results when
A) the companies that produce the product have higher materials costs.
B) the government reduces subsidies on the product.
C) taxes on the product are increased.
D) technological innovations are introduced in the manufacturing process.
D
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Refer to the table above. The opportunity cost per dollar of value added in stitching shoes by workers in Eduland is ________
A) $0.25 B) $0.50 C) $2 D) $4
If fiscal policy is used to close an expansionary gap, the _____
a. short-run aggregate supply curve shifts leftward and the price level falls b. short-run aggregate supply curve shifts rightward and the price level increases c. short-run aggregate supply curve shifts rightward and the price level falls d. aggregate demand curve shifts leftward and the price level falls e. aggregate demand curve shifts rightward and the price level falls
Which of the following has been a significant factor in DVDs replacing video cassettes (VCs) in the retail home video market?
A) DVDs are now less than one-half the price of VCs. B) A scarcity of production capacity has curtailed the manufacture of VCs. C) Most consumers perceive DVD sound and video reproduction to be of higher quality. D) The price of DVD players has increased dramatically.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30