Which of the following is true?
a. A decrease in the price of ice cream would cause a decrease in the demand for frozen yogurt, a substitute
b. Just as demanders will demand more now if the price of a good is expected to rise in the near future, sellers will supply more now if the price of a good is expected to rise in the near future.
c. An increase in supply leads to a movement up along the supply curve.
d. Both technological progress and cost-increasing regulations will increase supply.
a
You might also like to view...
What determines whether the industry long-run supply curve is upward sloping or horizontal?
What will be an ideal response?
The federal government subsidizes higher education
A. less than primary and secondary education. B. more than primary and secondary education. C. about the same as primary and secondary education. D. because it does not subsidize primary and secondary education.
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.
Rapid population growth can threaten sustained economic growth if it: a. leads to diminishing marginal returns in production
b. remains unmonitored by government agencies. c. enables economies of scale in production to be exploited. d. leads to increased capital formation.