A movement along the supply curve might be cause by a change in
a) production technology
b) input prices
c) expectations about future prices
d) the price of the good or service that is being supplied
Answer: d) the price of the good or service that is being supplied
You might also like to view...
Suppose Firm A and Firm B are considering whether to invest in a new production technology. For each firm, the payoff to investing (given in thousands of dollars per day) depends upon whether the other firm invests, as shown in the payoff matrix below. 
Is this game a prisoner's dilemma?
A. No. B. Yes. C. It cannot be determined. D. Only when both Firm A and Firm B invest.
The AD curve is the relationship between
A) aggregate planned expenditure and the price level. B) aggregate planned expenditure and real GDP when the price level is fixed. C) the quantity of real GDP demanded and the unemployment rate. D) aggregate planned expenditure and the quantity of real GDP demanded. E) the quantity of real GDP demanded and the quantity of real GDP supplied. The above figure shows a nation's consumption function.
Refer to Table 18.1. M2 in this simple economy equals
A) $1,050. B) $4,050. C) $4,550. D) $5,100.
Explain why price levels are lower in poorer countries
What will be an ideal response?