When supply changes there is a ____, and when the price changes there is a ____.
A. movement along the supply curve; shift in the supply curve
B. shift in the supply curve; shift in the supply curve
C. shift in the supply curve; movement along the supply curve
D. movement in the quantity supplied; shift in selling plans
E. change in the quantity supplied; change in supply
Ans: C. shift in the supply curve; movement along the supply curve
You might also like to view...
Suppose that a quota is imposed on imports of minivans. Show graphically what the effect is in terms of price and quantity of imports. Be sure that your graph is completely and correctly labeled. What determines how much of the quota is paid by the buyers of the minivans?
What will be an ideal response?
"Marginal cost eventually increases because of the law of diminishing returns." True or false? Explain
What will be an ideal response?
If the Phillips curve represents a "________ relationship," then the trade-off between unemployment and inflation is permanent
A) cyclical B) structural C) frictional D) dynamic
The total amount of money the banking system can create with an initial deposit (ID) of $10,000 and a legal reserve ratio (LRR) of 25 percent is
a. $30,000 b. $2,500 c. $7,500 d. $10,000 e. $40,000