An increase in the price of off-road vehicles will result in
A) a decrease in the supply of off-road vehicles.
B) a larger quantity of off-road vehicles supplied.
C) an increase in the demand for off-road vehicles.
D) a smaller quantity of off-road vehicles supplied.
B
You might also like to view...
Which of the following statements is true of inequality in the U.S. economy?
A) Inequality in the U.S. economy is now less than what it was in the year 1950. B) Inequality in the U.S. economy is now higher than what it was in the year 1950. C) Inequality in the U.S. economy had increased throughout the 20th century. D) Inequality in the U.S. economy had decreased throughout the 20th century.
If inflation turns out to be higher than was anticipated,
A) debtors are helped. B) debtors are hurt. C) debtors are neither helped nor hurt. D) the effect on debtors cannot be predicted.
Which of the following statements is true?
A) Economists are fairly certain that globalization leads to an increased standard of living. B) During the 1990s, the annual percentage change in output per person was negative in globalized developing countries, but positive in less globablized countries. C) When it comes to globalization it is generally easier to see the benefits than to see the costs. D) The benefits of globalization are more visible than the costs, since they tend to be concentrated on a relatively smaller group of people.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.