The shift from S to S' is called a(n)
A. decrease in quantity supplied.
B. increase in quantity supplied.
C. increase in supply.
D. decrease in supply.
Answer: C. increase in supply
Explanation: The increase in supply shifts supply curve to the right which means the supply increases at all the prices
You might also like to view...
The demand for money curve shifts rightward if
A) the price level increases. B) real GDP increases. C) the nominal interest rate increases. D) the real interest rate decreases.
U.S. GDP excludes underground activities
Indicate whether the statement is true or false
Over the past year, output grew 5%, capital grew 5%, and labor grew 1%. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, how much did productivity grow?
A) 0.5% B) 1.0% C) 2.2% D) 2.8%
When a customer deposits $1,000 in a bank, the deposit is: a. an asset of the Federal Reserve
b. included in M1 if it is currently in a commercial bank's vault. c. a liability to the customer. d. an asset to a commercial bank if it is currently in the bank's vault. e. a liability for the bank as the bank owes it to the customer.