In general, any ceteris paribus determinant of supply that is favorable to production will
A. shift the supply curve to the left.
B. shift the demand curve to the left.
C. cause a movement along the supply curve.
D. shift the supply curve to the right.
Answer: D
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In the 1970s, nominal interest rates in the United States were quite high, while real rates were extremely low
Which group "wins" in this circumstance, lenders or borrowers? What might explain the willingness of the "losers" to accept disadvantageous loan terms?
Which of the following observations is not true?
a. Demand curve of the perfectly competitive firm is perfectly elastic. b. There is only one price for a product in a perfectly competitive market. c. A firm in a perfectly competitive market can sell as much as it wants at market price. d. Demand curve of the perfectly competitive industry is perfectly elastic.
In an economy where firms in most industries are purely competitive firms, individual firms in each industry would produce ________ products and have a ________ share of industry output.
A. differentiated; large B. differentiated; small C. standardized; small D. standardized; large
The Great Depression of the 1930s
a. confirmed the value of a "hands off" policy for governments. b. was exacerbated by an expansionary monetary policy. c. was a worldwide event. d. continued throughout the 1940s without any interruption.