Which of the following shifts the supply curve rightward?
A) an increase in the population
B) a positive change in preferences for the good
C) a decrease in the price of the good
D) a decrease in the price of a factor of production used to produce the good
D
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An increase in supply will have what effect on equilibrium price and quantity?
A. Price will increase; quantity will decrease. B. Price will decrease; quantity will increase. C. Both price and quantity will increase. D. Both price and quantity will decrease.
The quantity theory of money implies that if the money stock were to double, the price level would
a. fall by one half. b. rise, but only slightly. c. also double. d. be unchanged. e. all of the above.
_____ is a contract that specifies actions to be taken if various situations come to prevail
a. An insurance policy b. Contingency c. Unitization d. An escalator
Measuring the rate of inflation is primarily a concern of:
a. positive economics b. normative economics. c. microeconomics. d. macroeconomics.