Which of the following will cause an outward (rightward) shift in the supply curve?
A) a reduction in the price of the good
B) an increase in the price of labor input
C) an increase in the number of consumers
D) technological progress
D
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As the real wage increases, the opportunity cost of working outside the home increases
a. True b. False
The international treaty established to negotiate lower trade restrictions is known as the
a. World Bank Act b. General Agreement on Tariffs and Trade (GATT) c. International Association for Free Trade (IAFT) d. Countries United for Free Trade (CUFT) e. International Development Fund
Which of the following would be likely to expand a production possibilities curve?
a. a decrease in unemployment b. a decrease in price levels c. an increase in price levels d. none of the above
If a retail food chain merged with a meat packing company, this would be an example of a
A. diagonal merger. B. vertical merger. C. conglomerate merger. D. horizontal merger.