If the supply curve of a product changes so that sellers are now willing to sell 2 additional units at any given price, the supply curve will
A) shift leftward by 2 units.
B) shift rightward by 2 units.
C) shift vertically up by 2 units.
D) shift vertically down by 2 units.
B
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The In the News article in the text titled "Fiscal Policy in the Great Depression" discusses fiscal spending and taxation. During the Great Depression, the federal government pursued a policy of fiscal restraint that led to
A. A decrease in aggregate demand. B. An increase in aggregate supply. C. A decrease of the federal deficit. D. The retirement of bonds, which reduced the federal debt.
Refer to the data. The average variable cost of 4 units of output is:
Answer the question on the basis of the accompanying table that shows average total costs (ATC) for a manufacturing firm whose total fixed costs are $10:
A. $33.50.
B. $28.50.
C. $19.00.
D. $21.00.
If a third party pays for an individual to consume a good, how is the decision making of consumers affected? How does this affect the actions of suppliers?
Traci is a nurse, and she gets paid an additional $1.00 per hour for agreeing to work the night shift. Carol is also a nurse, but she works the day shift and does not get paid this extra dollar per hour. This difference in pay is an example of a compensating differential
a. True b. False Indicate whether the statement is true or false