When supply changes there is a ____, and when the price changes there is a ____. Question 23 options:
A. movement along the supply curve; shift in the supply curve
B. shift in the supply curve; shift in the supply curve
C. shift in the supply curve; movement along the supply curve
D. movement in the quantity supplied; shift in selling plans
E. change in the quantity supplied; change in supply
C. shift in the supply curve; movement along the supply curve
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A student was heard to remark, “Even though I am certain to fail this course, I cannot withdraw from it since it is too late to get back my tuition.” Use one or more “Ideas for Beyond the Final Exam” to analyze this reasoning.
What will be an ideal response?
Suppose that the quantity of root beer demanded declines from 103,000 gallons per week to 97,000 gallons per week as a consequence of a 10 percent increase in the price of root beer. The price elasticity of demand is
A) 0.60. B) 1.40. C) 1.66. D) 6.00.
Rising inflation causes quantity demanded to decline, because ________
A) the central bank raises the nominal interest rate by more than the increase in expected inflation B) households and businesses are reluctant to spend when prices rise C) higher inflation causes the IS curve to shift to the left D) all of the above E) none of the above
If British real GDP rose relative to U.S. real GDP, there would be
a. a rightward movement along the supply of British pounds curve in the dollar-pound market b. a leftward movement along the supply of British pounds curve in the dollar-pound market c. a rightward shift of the supply of British pounds curve in the dollar-pound market d. a leftward shift of the supply of British pounds curve in the dollar-pound market e. the tendency for the supply of British pounds curve to become flatter in the dollar-pound market