If the costs of production decrease, there is
A) an increase in aggregate supply and the AS curve shifts rightward.
B) an increase in the quantity of real GDP supplied and a movement up along the AS curve.
C) a decrease in aggregate supply and the AS curve shifts leftward.
D) a decrease in the quantity of real GDP supplied and a movement down along the AS curve.
E) an increase in aggregate supply and the AS curve shifts leftward.
A
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Based on the figure above, which of the following factors could lead the supply curve to shift leftward from S0 to S1?
A) a rise in the U.S. exchange rate B) a fall in the U.S. interest rate C) a fall in the U.S. exchange rate D) a fall in foreign interest rates E) a rise in expected future U.S. exchange rate The figure above shows the market for foreign exchange in 2001 and 2009.
When the competitive market is using its resources efficiently, the
A) total amount of consumer surplus is maximized. B) total amount of producer surplus is maximized. C) sum of the total amount of consumer surplus plus the total amount of producer surplus is maximized. D) sum of the total amount of consumer surplus plus the total amount of producer surplus equals zero.
The Pullman strike of 1894
a. resulted in management's agreement to negotiate with the labor union. b. received widespread support from the American public. c. was led by Eugene V. Debs. d. became a model for later attempts by unions peacefully organize. e. All of the above.
The problem with spot exchange in the presence of specific assets is that both parties:
A. have incentives to behave opportunistically. B. do not take advantage of the economies of scope. C. take the risk of price fluctuations. D. have incentives to behave as principals.