Which of the following will NOT cause a rightward shift in the supply curve?
A) an improvement in technology
B) a reduction in resource costs
C) a reduction in the expected future price
D) none of the above
Answer: D
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Which of the following is a policy tool of the Fed? i. setting the required reserve ratios ii. conducting open market operations iii. quantitative easing
A) i only B) ii only C) iii only D) Both i and ii E) i, ii, and iii
Which barrier to entry into the market is created when firms engage in predatory pricing?
a. Control of a physical resource b. Intimidating potential competitors c. Legal monopoly d. Natural monopoly
The indifference curves for right shoes and left shoes will be:
A. L-shaped. B. convex. C. a straight line with positive slope. D. a straight line with negative slope.
Assume the government sets a minimum price for a particular good below the equilibrium price. How much quantity traded will this lead to?
A. the equilibrium quantity B. below the equilibrium quantity C. above the equilibrium quantity D. There is not sufficient information.