A decrease in the price of a good would
a. increase the supply of the good
b. increase the quantity demanded of the good.
c. give producers an incentive to produce more to keep profits from falling.
d. shift the supply curve for the good to the left.
b
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A decline in money supply will lead to a(n) ________ if nominal wages are rigid
A) increase in labor demand B) fall in real wages C) fall in labor demand D) increase in real output
Other nations had tried economic union in the past, and since adopting a common currency had shown economic benefits for them, the nations of Europe decided to try it too
Indicate whether the statement is true or false
Tariffs and quotas create a loss in social welfare because
A) producer surplus declines. B) revenues from tariffs are misspent. C) consumer surplus declines. D) All of the above.
Describe what the unemployment rate and the employment rate measure. If we were to sum the unemployment rate and the employment rate, would that sum be equal to one hundred percent? Explain why or why not