All of the following shift the supply of watches to the right except
a. an increase in the price of watches
b. an advance in the technology used to manufacture watches
c. a decrease in the wage of workers employed to manufacture watches
d. manufacturers' expectations of lower watch prices in the future.
e. All of the above cause an increase in the supply of watches.
a. an increase in the price of watches.
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Which of the following institutions is NOT part of the structure of the Federal Reserve system?
A) The Federal Open Market Committee B) The Federal Reserve Banks C) The Board of Governors D) The Federal Government
Government revenue generated by the issue of currency is known as ________
A) monetizing the debt B) triage C) seignorage D) hyperinflation
Which of the following is a stock variable?
a. The interest rate b. Real GDP c. Investment in physical capital d. Physical capital e. Investment in human capital
Monopolists may in the long run
A. earn positive economic profit. B. be protected by barriers to entry. C. grow wealthy at the expense of their consumers. D. All of these responses are correct.