A leftward shift of a supply curve is called a(n):
A. decrease in quantity supplied.
B. increase in supply.
C. decrease in supply.
D. increase in quantity supplied.
Answer: C
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A sunk cost is one that
a. does not vary with the level of output. b. increases as the firm's production increases. c. measures the value of the firm's self-owned resources. d. can no longer be avoided.
In the market for reserves, if the federal funds rate is above the interest rate paid on excess reserves, an open market purchase ________ the ________ of reserves which causes the federal funds rate to fall, everything else held constant
A) increases; supply B) increases; demand C) decreases; supply D) decreases; demand
In order for a firm to maximize profits through price discrimination, the firm must have some market power and be able to prevent arbitrage
a. True b. False Indicate whether the statement is true or false
If Xt and Yt are cointegrated, then the OLS estimator of the coefficient in the cointegrating regression is
A) BLUE. B) unbiased when using HAC standard errors. C) unbiased even in small samples. D) consistent.