Does a subsidy to sellers affect the supply curve?
A. Yes, it shifts supply to the right by the amount of the subsidy.
B. No, the quantity supplied will decrease, but the supply curve does not move.
C. Yes, it shifts supply vertically downward by the amount of the subsidy.
D. No, the quantity supplied will increase, but the supply curve does not move.
Answer: C
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A country with a real GDP per person similar to real GDP per person in the United States but with limited political freedom is generally considered to have
A) a lower standard of living than the United States. B) a larger Human Development Index because the other country still needs to develop more political freedom. C) the same standard of living as the United States. D) an understated GDP. E) an overstated nominal GDP.
Gross investment
A) is the purchase of new capital. B) includes only replacement investment. C) does not include additions to inventories. D) Both answers A and B are correct.
Studying the growth of (Y/N) in the United States over the period 1909-1957, Robert Solow found that growth in multifactor productivity accounted for ________ of it
A) ten percent B) twenty-five percent C) one-third D) roughly half E) seven-eighths
Markets that are more likely to be subject to adverse selection problems are those where:
A. the market relies on independent certifiers of quality. B. the goods sold in that market are highly uniform in quality. C. information is easily available to consumers and sellers. D. there is an imbalance of information between buyers and sellers