Oil is an input used to produce gasoline. An increase in the price of oil would be represented by:
A. a leftward shift of the supply curve for gasoline.
B. a rightward shift of the supply curve for gasoline.
C. a movement up and to the right along the supply curve for gasoline.
D. a movement down and to the left along the supply curve for gasoline.
A. a leftward shift of the supply curve for gasoline.
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As the price of good X increases, the budget line
a. makes a parallel shift outward. b. makes a parallel shift inward. c. pivots inward. d. pivots outward.
The long-run aggregate supply curve will shift outward to the right when
A) the price level decreases. B) the real-balance effect increases. C) there is economic growth. D) the amount of labor decreases.
Comparing the cases of Brazil and Kerala, how would you characterize their different approaches to achieving economic development?
What will be an ideal response?
The market mechanism provides a financial incentive for firms to minimize the pollution they create
a. True b. False Indicate whether the statement is true or false