When the amount supplied is greater at each price, there is a(n)
A) rightward shift in the supply curve.
B) leftward shift in the supply curve.
C) upward movement along the supply curve.
D) downward movement along the supply curve.
A
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Answer the next question based on the following data. All figures are in billions of dollars.Gross investment$18National income100Net exports2Personal income85Personal consumption expenditures70Saving5Government purchases20Net domestic product105Statistical discrepancy0The gross domestic product for the above economy is ________.
A. $107 B. $95 C. $110 D. $100
If actual inflation is greater than expected inflation,
A) the unemployment rate rises. B) the Phillips curve is a vertical line. C) real wages fall. D) real wages rise.
Based on these graphs, if there was no supply-side effect to a tax cut, prices would ______.
a. remain at PL1
b. move to PL2
c. move to PL3
d. remain at PL2
An effluent fee
A) is a reward to companies using production methods that create positive externalities. B) is also called a pollution subsidy. C) gives a firm the right to pollute if it pays a tax on what it discharges. D) is intended to influence the market by increasing supply and decreasing price.