Indicate whether each of the following situations would shift the supply curve to the left, to the right, or not at all
a. An increase in the number of firms in the market
b. An increase in the current price of the product
c. A decrease in productivity
d. An increase in the expected future price of a product
e. A decrease in the price of an input
a. Shift to the right
b. No shift
c. Shift to the left
d. Shift to the left
e. Shift to the right
You might also like to view...
If a person supplies more hours of labor in response to a wage increase, then
A) the substitution effect is greater than the income effect. B) the income effect is greater than the substitution effect. C) the income effect equals the substitution effect. D) the person is not maximizing utility.
Suppose the marginal propensity to consume (MPC) is 0.9 and there is a $3,000 increase in planned investment. Given this information, real GDP will increase by
A) $3,000. B) $2,700. C) $30,000. D) $3,333.
In the definition of marginal propensity to consume, marginal refers to ______.
a. the amount of extra taxes someone pays as a result of government purchases b. the total income someone receives as a result of government purchases c. the additional amount of disposable income someone receives d. the amount of additional income spent on consumer goods and services
Imagine a situation where the deposits at state chartered banks would be insured by a state insurance fund and deposits at nationally chartered banks would be insured by FDIC. How would you expect both depositors and banks would react?
What will be an ideal response?