In the figure above, if point "a" represents the original equilibrium and point "b" the new equilibrium, then
A) there has been an increase in supply.
B) there has been an increase in demand.
C) there has been a change in the quantity supplied and no change in supply.
D) Both answers B and C are correct.
E) Both answers A and B are correct.
A
You might also like to view...
The saying that "There's no such thing as a free lunch" refers to the
A) spillover principle. B) marginal principle. C) principle of opportunity cost. D) reality principle.
German luxury car exports were hurt in 2009 as a result of the recession. How would this decrease in exports have affected Germany's aggregate demand curve?
A) The aggregate demand curve would have shifted to the right. B) The aggregate demand curve would not have shifted, but there would have been a movement up the aggregate demand curve. C) The aggregate demand curve would have shifted to the left. D) The aggregate demand curve would not have shifted, but there would have been a movement down the aggregate demand curve.
Residents of the developing American colonies lived _______ lives compared to people living in the advanced countries of that time because ________
a. better; of favorable protections from England b. better; of high levels of output per worker. c. worse; of unfavorable taxation d. worse; of the inaccessibility of both capital and finished machine goods.
Core competency implies:
A) a firm produces one single product. B) a firm hires only one type of employee. C) a firm focuses on only one type of customer. D) a firm does one thing better than it does other things. E) a firm must be competent at its core - its executive level.