Which of the following will not cause the aggregate supply curve to shift?
a. an increase in capital stock
b. a decrease in the number of workers
c. a decrease in the amount of natural resource base
d. a change in the price level
e. an increase in the number of entrepreneurs
D
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According to the law of demand, an increase in the price of a good causes
A) a rightward shift of the demand curve for that good. B) a leftward shift of the demand curve for that good. C) an upward movement along the demand curve for that good. D) a downward movement along the demand curve for that good.
Conditions that can throw the market off of perfect equilibrium:
What will be an ideal response?
Summing all of the costs that do NOT change as output varies yields
A. fixed costs. B. implicit costs. C. explicit costs. D. variable costs.
If country A exports good X to country B and country B exports good Y to country A, it is most likely that
A. A has an absolute advantage in the production of good X. B. B is producing less of good Y than in the no-trade case. C. B has a comparative advantage in the production of good Y. D. the opportunity cost of domestic production of good Y for country A is lowered with trade.