Entry of new firms into an existing market causes:
A) an upward movement along the market supply curve.
B) a downward movement along the market supply curve.
C) a rightward shift of the market supply curve.
D) a leftward shift of the market supply curve.
C
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Figure 3-3
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In Figure 3-3, a shift from A to B seems most consistent with which of the following scenarios?
A. Society has decided to give guns lower priority. B. Technological advances have been greater for guns than for butter. C. The society has experienced a massive immigration of labor. D. There are unemployed resources in the production of both guns and butter.
Recall the Application. When applying the Taylor Rule to the decade of 2000, economist John Taylor found that compared to past experience, the Fed
A) raised interest rates much too high and much too quickly. B) should have maintained interest rates instead of raising them slowly. C) should have lowered interest rates at a much faster pace. D) was much too aggressive in lowering interest rates.
One of the remedies that has been used in the case of antitrust violations is the award of treble damages to the party that has been harmed
a. True b. False
What phase of the business cycle immediately follows a recession?