The increase in the number of sellers of a good would
A. move its supply curve to the left.
B. cause a movement along the supply curve to a (lower price, lower quantity) point.
C. move its supply curve to the right.
D. cause a movement along the supply curve to a (higher price, higher quantity) point.
Answer: C
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Workers expect inflation to fall from 4% to 1% next year. As a result, this should
A) shift the short-run aggregate supply curve to the right. B) move the economy down along a stationary short-run aggregate supply curve. C) move the economy up along a stationary short-run aggregate supply curve. D) shift the short-run aggregate supply curve to the left.
Which of the following would be considered a one-time expense?
A. A delivery truck B. Raw materials C. Radio ads D. A manager's salary
A tax increase has
a. a multiplier effect but not a crowding out effect b. a crowding out effect but not a multiplier effect c. both a crowding out and multiplier effect d. neither a multiplier or crowding out effect
Which of the following is an accurate statement about monopolistic competition?
a. Competing firms often conduct retaliatory moves. b. Firms often act independently. c. Markets often have few competing firms. d. Firms often significantly influence the policy of competing firms.