Along a supply curve,
A. supply changes as price changes.
B. quantity supplied changes as price changes.
C. supply changes as technology changes.
D. quantity supplied changes as technology changes.
Answer: B
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The price chosen by a monopolist:
A) maximizes social surplus. B) maximizes consumer surplus. C) is dependent on the production of other firms. D) is independent of the production of other firms.
Real business cycle theorists emphasize
a. the large number of minor, unconnected technological changes and their randomness, and these are not factors generating a business cycle b. the small number of technological changes that clustered together trigger the business cycle c. the evenness (or absence of any variations) in the economy's full employment growth path d. the static and uncompetitive nature of the economy, which explains the failure of the economy to generate full employment e. that technological change is irrelevant in a modern industrial society
When buying a used car from a dealer, showing up in cheap clothing and ungroomed is an example of:
A. statistical discrimination. B. signaling. C. screening. D. building a reputation.
The main difference between sales and excise taxes is that:
A. sales taxes apply to a wide range of products, while excise taxes apply only to a select group of products. B. excise taxes apply to a wide range of products, while sales taxes apply only to a select list of products. C. sales taxes are consumption taxes, while excise taxes are not. D. excise taxes are consumption taxes, while sales taxes are not.