When the price of a key input to production increases, the supply curve decreases, or shifts to the left
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Use the following diagrams for the U.S. economy to answer the next question.
Which of the diagrams best portrays the effects of an increase in resource productivity?
A. Graph (1) B. Graph (2) C. Graph (3) D. Graph (4)
Assuming all else equal, a decrease in the real interest rate will cause:
A) an upward movement along the credit supply curve. B) a downward movement along the credit supply curve. C) the credit supply curve to shift to the right. D) the credit supply curve to shift to the left.
Which of the following is most consistent with economizing behavior?
a. If you derive the same satisfaction from eating pizza and eating ice cream, it makes no difference which one of the two you choose. b. Before voting, you should invest the time and energy to become fully informed on all of the issues and candidates. c. It never makes sense to hire someone to do something for you that you could do yourself. d. If you get the same satisfaction from a chicken sandwich and a salad, you should purchase the one that costs the least.
Checks received by the firm and deposited but not yet cleared represent
a. payment float b. availability float c. net float d. cash in hand e. none of these