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

Economics

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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.

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Conditions that can throw the market off of perfect equilibrium:

What will be an ideal response?

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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.

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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.

Economics