Autoworkers negotiate a wage increase. How does this change affect the supply curve of? cars?
A) It shifts the supply curve leftward.
B) It shifts the supply curve rightward.
C) It does not shift the supply curve or create a movement along it.
D) The supply curve will shift but there is not enough information to tell if the change shifts the supply curve rightward, leftward, or not at all.
E) It creates a movement downward along the supply curve.
A) It shifts the supply curve leftward.
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When the Fed buys U.S. government securities from a member bank, _____
a. there is a decrease in its assets b. there is an increase in its assets c. there is a decrease in its liabilities d. there is an increase in its liabilities e. its total assets and liabilities remain unchanged
The automobile, household appliance, and automobile tire industries are all illustrations of:
A. homogeneous oligopoly. B. monopolistic competition. C. pure monopoly. D. differentiated oligopoly.
The cross-price elasticity between good X and good Y is positive. Other things being equal, if the price of X rises:
A. quantity of Y demanded decreases. B. quantity of Y demanded increases. C. a consumer spends more on good Y than on good X. D. a consumer spends more on good X than on good Y.
Individuals receive income and pay taxes over the course of a year. The difference between the income they receive and the taxes they pay is referred to as
A. net national income. B. per capita real GDP. C. net domestic product. D. disposable personal income.