Which of the following events would cause a movement upward and to the right along the supply curve for mangos?
a. The number of sellers of mangos increases.
b. There is an advance in technology that reduces the cost of producing mangos.
c. The price of fertilizer decreases, and fertilizer is an input in the production of mangos.
d. The price of mangos rises.
d
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Everything else held constant, an increase in net taxes will cause the IS curve to shift to the ________ and aggregate demand will ________
A) right; increase B) right; decrease C) left; increase D) left; decrease
If a U.S. citizen buys a car produced in Germany, this transaction will add to
a. U.S. aggregate demand. b. U.S. aggregate supply. c. German aggregate demand. d. German imports.
In the long run, firms in a perfectly competitive market will:
A. earn positive economic profits. B. exit if the price is lower than their lowest average total cost. C. attract other firms to the market if the price is equal to their lowest average total cost. D. not attract other firms if they are earning slightly positive economic profits.
Which of the following rates of growth in the money supply is likely to lead to the lowest level of inflation in the economy?
a. 1 percent per year b. 3 percent per year c. 5 percent per year d. 7 percent per year