A movement upward and to the right along a supply curve is called a(n)
a. increase in supply.
b. decrease in supply.
c. decrease in quantity supplied.
d. increase in quantity supplied.
d
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Fred has always been known as "the rich kid." Strictly speaking, this must mean that ________
A) Fred has a lot of cash B) Fred's income is quite high C) Fred won the lottery before he was legally eligible D) Fred has a flashy wardrobe E) Fred has a lot of wealth
The Industrial Revolution began i
A. The U.S. in the mid-1900's B. England in the late 1700's C. The Roman Empire around 500 B.C. D. China in A.D. 1800
If rapid increases in oil prices caused price levels to increase and real GDP to decrease in the short run, the economy would experience
A) an increase in the natural rate of unemployment. B) stagflation. C) long-run economic decline. D) hyperinflation.
Refer to Figure 4-1. Arnold's marginal benefit from consuming the fourth burrito is
A) $0. B) $1.00. C) $2.50. D) $3.00.