Which of the following would not cause a shift in the supply curve for a good?
A. An increase in demand for that good.
B. An increase in the cost of labor used to produce that good.
C. A change in the cost of raw materials used to produce that good.
D. A decrease in the cost of machinery used to produce that good.
Answer: A
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Expansionary monetary policy is achieved by:
A) decreasing the amount of bank reserves and lowering the federal funds rate. B) decreasing the amount of bank reserves and raising the federal funds rate. C) increasing the amount of bank reserves and lowering the federal funds rate. D) increasing the amount of bank reserves and raising the federal funds rate.
A firm operating in a perfectly competitive market is a price taker because:
a. no firm has a significant market share. b. no firm's product is perceived as different. c. setting a price higher than the going price results in zero sales. d. all of these.
The utilitarian justification for redistributing income is based on the assumption of diminishing marginal utility
a. True b. False Indicate whether the statement is true or false
Suppose the price of gold is initially $300 per ounce in New York and 450 Canadian dollars per ounce in Toronto, Canada. If the law of one price holds for gold, the nominal exchange rate is ________ Canadian dollars per U.S. dollar. If Canada experiences inflation, such that the price of gold rises to 510 Canadian dollars per ounce, but the U.S. does not experience any inflation, the nominal exchange rate would be ________ Canadian dollars per U.S. dollar.
A. 0.67; 0.59 B. 1.70; 1.50 C. 1.50; 1.70 D. 0.59; 0.67