A rightward shift in the supply curve is called:
a. a decrease in supply.
b. an increase in consumption.
c. an increase in supply.
d. an decrease in income.
c
You might also like to view...
Which of the following statements is TRUE about the difference between the public debt and the government budget deficit?
A) The public debt is a flow measure and the government budget deficit is not a flow measure. B) There is no relationship between the public debt and the government budget deficit since one is a stock measure and the other is a flow measure. C) The public debt always increases while the government budget deficit may increase or decrease. D) The public debt for this year will increase or decrease depending upon whether there is a government budget deficit or a government budget surplus.
As people consume more and more of a particular good or service, we can predict that _____________ .
a. Marginal utility of each additional good consumed will fall and total utility will increase, but more rapidly than before b. Marginal utility of each additional good consumed will fall and total utility will increase, but more slowly than before c. Marginal utility of each additional good consumed will rise and total utility will increase, but more rapidly than before d. Marginal utility of each additional good consumed will rise and total utility will increase, but more slowly than before.
As income rises, the demand for inferior goods
A. rises. B. falls. C. stays about the same. D. cannot be determined.
A monopolist determines the profit-maximizing output
A) at the point at which TR = TC. B) at the point at which MR = MC. C) at any point it wants because it is the only producer of the product. D) at the point at which TR is maximum.