If the price of a typical good falls, the quantity supplied for that good will
A. automatically increase to zero.
B. remain the same.
C. decrease.
D. increase.
Answer: C
You might also like to view...
Crowd funding can best be described as:
A) raising funds in a very large market B) raising small amounts of money from large numbers of people C) many firms competing for the same source of funds D) making funds available for a large number of business start ups
The economic system envisioned by the Constitution _________
a. embodied Adam Smith's emphasis on protecting private property b. used the Civil Code of France, rather than the English Common Law, as its foundation. c. enshrined the traditional 18th century model of mercantilism which allowed the government to have large control over private ownership of goods and services d. fostered Jefferson's idea of a democracy based primarily on agriculture
If the economy in the graph shown is currently at point B, and the government enacts contractionary fiscal policy, in the short run the economy will most likely move to point:
A. A
B. It is likely to be unaffected and stay at point B
C. C
D. D
If the government were to increase income taxes, we would predict:
A. a shift in aggregate demand to the right. B. a downward movement along the aggregate demand curve. C. a shift in aggregate demand to the left. D. an upward movement along the aggregate demand.