In the short run, a change in the equilibrium price will
A) always lead to inflation.
B) cause a shift in the demand curve.
C) cause a shift in the supply curve.
D) cause a change in the quantity demanded or supplied.
D
You might also like to view...
A monopolist is the sole supplier of a good or service for which there are no close substitutes
Indicate whether the statement is true or false
A factory produces 1,000 radios a year, AVC = $10 and TFC = $5,000. The factory’s TC
A. equals $15. B. equals $5,005. C. equals $15,000. D. cannot be determined from the information given.
A leftward shift of a supply curve is called a(n):
a. decrease in demand. b. increase in supply. c. decrease in supply. d. increase in quantity supplied. e. decrease in quantity supplied.
If incomes rose proportionately with prices, then in the absence of taxes
a) money would cease to be a veil b) real GDP would increase c) everyone would be worse off d) prices would have no effect on output or well-being e) resources would be over allocated to the present at the expense of future generations