All of the following factors will affect the supply of shoes except one. Which will not affect the supply of shoes?
a. higher wages for shoe factory workers
b. higher prices for leather
c. a technological improvement that reduces waste of leather and other raw materials in shoe production
d. an increase in consumer income
d
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A decrease in government expenditure shifts the AD curve ________ and a decrease in taxes shifts the AD curve ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
A perfect price discriminator
A) charges the maximum price for each unit that consumers are willing to pay. B) is able to convince consumers to pay more for each unit than they are willing to pay. C) is unable to make an economic profit. D) disregards the market demand curve.
If a firm can produce a product at a lower average cost than its competitors, it stands a better chance of earning economic profit
Indicate whether the statement is true or false
A trade deficit can be financed by all of the following except
a. a surplus in the capital account. b. a surplus in the official reserves transaction account. c. selling U.S. assets to foreigners. d. U.S. citizens buying foreign stocks and bonds.