Producers of DVDs are able to lower the wage rate that they pay to their workers. You predict that the
A) price will rise.
B) quantity supplied will decrease.
C) supply curve will shift leftward.
D) supply curve will shift rightward.
D
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What is the impact of a government subsidy to producers?
A) Less is produced relative to the efficient level, creating a deadweight loss. B) More is produced relative to the efficient level, creating a deadweight loss. C) Producer surplus is increased, which creates a larger consumer surplus. D) Producers are able to sell the product at a higher price. E) Consumers must pay a higher price for the good.
Suppose that the price level was 100 in 2011, 110 in 2012, and 130 in 2013. Over these three years
A) deflation occurred at an accelerating rate. B) the inflation rate was positive but slowing. C) prices were stable. D) the inflation rate was positive and accelerating.
_____ is a process in which parties initially in disagreement attempt to reach an agreement
a. Strategic voting b. Negotiation c. Borda count d. Median voting
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.