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.
a
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If in the economy, business saving equals $300 billion, household saving equals $10 billion and government saving equals -$200 billion, what is the value of national saving?
A. $210 billion B. $310 billion C. $110 billion D. $10 billion
If net exports are positive
A) net foreign investment is also positive. B) net foreign investment is negative. C) capital inflows must be greater than capital outflows. D) Both A and B are correct.
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
Steven lives in a big city where there is a shortage of parking spots. He has a parking spot in his driveway where he parks his car. Which of the following statements is most correct?
A. Steven has a lower opportunity cost of owning a car than his neighbor, who must rent a parking spot. B. The opportunity cost of using the spot is zero, because Steven owns the house. C. The opportunity cost of using the parking spot is the price he could charge someone else for using the spot. D. The opportunity cost depends on how much Steven's mortgage payment is.