If in the market for apples the supply has decreased, then
A) the supply curve for apples has shifted to the right.
B) there has been a movement upwards along the supply curve for apples.
C) there has been a movement downwards along the supply curve for apples.
D) the supply curve for apples has shifted to the left.
D
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What will be an ideal response?
Which of the following statements best describes the production and allocation of resources after the United States entered World War II?
a. Government spending as a percentage of GNP during this period never exceeded the maximum level at the height of the Depression under Roosevelt's New Deal policies. b. Production shifted out closer to the production possibilities frontier, primarily as a result of technical change. c. Production shifted out toward the production possibilities frontier, primarily as a result of underutilized resources being utilized. d. Greater production of goods to support the war involved nominally higher incidents of disabling injuries in the workplace, yet not increases in the rates of disabling injuries.
Suppose the number of medical school graduates continues to increase over the next decade. Which of the following is true?
a. Physicians' salaries must fall. b. Physicians' salaries must rise. c. Physicians' salaries will fall only if the demand for medical services falls. d. Physicians' salaries will fall if the demand for medical services rises more than the supply of physicians rises. e. Physicians' salaries will rise if the demand for medical services rises more than the supply of physicians rises.
The quantity theory of money relies on which variable to remain constant?
A. Velocity of money B. Money supply C. Price level D. Aggregate spending.