When technology advances, supply
A) increases, which is represented by a leftward shift in the supply curve.
B) increases, which is represented by a rightward shift in the supply curve.
C) decreases, which is represented by a rightward shift in the supply curve.
D) decreases, which is represented by a leftward shift in the supply curve.
E) remains the same; only quantity supplied changes.
B
You might also like to view...
Refer to Figure 12-1. If the firm is charging a price of $12 per unit
A) it is not selling any output. B) it is selling 700 units. C) it is making a profit. D) it breaks even.
The average American pays a higher percent of his income in taxes today than he would have in the late 18th century
a. True b. False Indicate whether the statement is true or false
The evidence for the U.S. suggests that the natural rate of unemployment has
A) increased by more than 5% since the 1960s. B) increased by 1 to 2% since the 1960s. C) decreased from 2000-2007, lower than it had been in the 1980s. D) decreased by more than 5% since the 1960s. E) fluctuated over time since the 1960s.
Lack of economic success in many African countries can be attributed to
a. excessive money supply growth b. too-rapid market liberalization c. weak social institutions d. too much state control over agricultural production e. all of the above