An "increase in the quantity supplied" suggests a:
A. Rightward shift of the supply curve
B. Movement down along the supply curve
C. Movement up along the supply curve
D. Leftward shift of the supply curve
Answer: C
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A balance of payments surplus occurs if
A) the supply of a nation's currency is equal to the demand for the currency at the current exchange rate. B) exports exceed imports. C) the supply of a nation's currency exceeds the demand for the currency at the current exchange rate. D) the demand for a nation's currency exceeds the supply of the currency at the current exchange rate.
As one moves down a straight-line demand curve, the elasticity increases.
Answer the following statement true (T) or false (F)
To increase their individual profits, members of a cartel have an incentive to
a. charge a higher price than the other members of the cartel. b. increase production above the level agreed upon. c. ignore the choices made by the other firms and act as a monopolist. d. charge the same price a monopolist would charge.
According to the quantity equation, the price level would change less than proportionately with a rise in the money supply if there were also
a. either a rise in output or a rise in the rate at which money changes hands. b. either a rise in output or a fall in the rate at which money changes hands. c. either a fall in output or a rise in the rate at which money changes hands. d. either a fall in output or a fall in the rate at which money changes hands.