A sudden rise in input prices which drives up the marginal cost of producing automobiles will shift the supply curve of automobiles upward
Indicate whether the statement is true or false
T
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If the price level rises in the United States but not in foreign nations and the current exchange rate does not change, the expected future exchange rate
A) rises. B) falls. C) stays the same. D) You can't tell from the given information.
What do economists mean when they say that capital can labor can be both complementary inputs and substitutes
What will be an ideal response?
Which of the following statements best describes trade-offs?
a. With a trade-off, it is necessary to give up some of one good to gain more of the other good. b. Trade-offs are not determined by the relative prices of the goods. c. A trade-off is always represented by a straight vertical line. d. A trade-off is always represented by a straight horizontal line.
Distinguish between a movement along the aggregate supply curve and a shift of the entire aggregate supply curve. What factors cause each to occur?