An increase in quantity supplied can be caused by a(n)
a. decrease in quantity demanded
b. rise in resource input prices
c. increase in price
d. decrease in the number of firms in the market
e. tax levied on the producer
C
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How does a pure public good differ from a club good? In your answer, give an example of each type of good
What will be an ideal response?
A deductible reduces ________ in exactly the same way as ________
A) moral hazard; coinsurance B) adverse selection; restrictive provisions C) moral hazard; cancellation of insurance D) adverse selection; limits on the amount of insurance
The inflation rate is:
A. the percentage change in the overall price level. B. the central concept in microeconomics. C. a measure of the rate of increase in the cost of imported goods. D. is not something that can be accurately measured with the CPI.
If the Fed buys $10 million dollars in government bonds from a bank, and the legal reserve requirement is 20 percent, the banking system is able to expand the money supply by
a. $10 million b. $8 million c. $2 million d. $40 million e. $50 million