A rightward shift of the supply curve will lead to a(n)
A) decrease in equilibrium price.
B) excess supply at the old equilibrium price.
C) increase in quantity demanded.
D) All of the above.
D
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Which of the following statements is generally true?
A) Rivalry is less the larger the number of firms in an industry. B) The smaller the number of firms in an industry, the greater the rivalry. C) The degree of rivalry in an industry is largely independent of the number of firms. D) The larger the number of firms in an industry, the greater the rivalry.
If the actual federal funds rate is substantially above the appropriate rate implied by the Taylor rule, this indicates that
a. monetary policy is overly expansionary and a shift toward a more restrictive policy would be appropriate. b. monetary policy is too restrictive and a shift to a more expansionary policy would be appropriate. c. monetary policy is unable to influence interest rates, and therefore it is unable to influence either output or prices. d. current monetary policy is on target and no policy shifts should be made.
List and describe three of the five different lags that can occur which may impede the effectiveness of the use of fiscal policy
As recessions begin, employment
a) rises and income falls. b) falls and income rises. c) and income both fall. d) and income both rise.