Which of the following will not cause a short-run shift in the supply curve?
A) a change in the number of sellers
B) a change in the cost of resources
C) a change in the price of the product
D) a change in future expectations
C
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Explain what a graph is and how it can be used
What will be an ideal response?
What is an informational cascade?
A) An excess flow of market information that makes it difficult for an investor to form a rational decision. B) A continual decline in the quality of market information from public sources due to sequential budget cuts. C) A continual increase in the quality of market information from public sources due to broader use of the internet by market participants. D) A sequence of decisions based on the actions of others rather than fundamental information.
The demand for factor inputs:
A. depends upon the markets for the goods that they are used to produce. B. is referred to as imputed demand. C. is independent of how much they contribute to the value of the end product. D. is generally constant across most factor markets.
In reference to welfare recipients, the high effective marginal tax rate on earnings
a. encourages self-sufficiency b. encourages more labor market activity c. discourages employment d. increases total family income if the marginal tax rate exceeds 100 percent e. tends to increase welfare benefits as more income is earned up to the "means-test" threshold