Which of the following would shift the supply curve to the left?
A) A fall in the expected future price of the good
B) A rise in the expected future price of the good
C) A rise in technology that lowers the cost of producing the good
D) A positive supply shock that brings more output onto the market
B
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Answer the following statement(s) true (T) or false (F)
1. Actuarial risks are based on factual data. 2. A reference dose (RfD) measures the daily exposure to some contaminantthat can be tolerated over a person’s lifetime. 3. According to the textbook application on the ecological risks associated with climate change, all such risks are known with certainty. 4. The EPA has developed the same guidelines for assessing both human health risks and ecological risks. 5. In an ecological risk assessment, the step in which the ecological entity that is potentially at risk is identified is called the analysis phase.
In the short-run, an increase in the price of raw materials will ________ the price level and ________ real GDP
A) raise; increase B) lower; increase C) lower; decrease D) raise; decrease E) raise; not change
The table above gives some of the entries in the national income and product accounts. What is the value of exports?
A) $350 billion B) $300 billion C) -$25 billion D) $25 billion
The effort to collect and manage revenue from taxes is called:
A. an externality. B. deadweight loss. C. administrative burden. D. transfer of surplus.