The price elasticity of supply is a measure of the extent to which the quantity supplied of a good changes when the
A) cost of producing the product increases.
B) quantity of the good demanded increases.
C) supply increases.
D) price changes.
E) number of firms supplying the good changes.
D
You might also like to view...
According to the Ricardo-Barro effect, what is the effect on the real interest rate of a government budget surplus?
What will be an ideal response?
To see how variables evolve over time we use
A) a scatter graph. B) an evolution plot. C) a cross-section plot. D) a time-series graph.
The primary interest of firms engaging in offshoring is to find lower wages and to decrease production costs
Indicate whether the statement is true or false
A government budget surplus occurs during a budget year when
A. tax revenues = government spending. B. tax revenues < government spending. C. tax revenues + government spending = personal income. D. tax revenues > government spending.