The supply curve does not:
A. represents producers' willingness and ability to sell.
B. visually display the supply schedule.
C. show the minimum price producers will accept for any given quantity.
D. illustrate how consumers want to purchase goods and services.
Answer: D
You might also like to view...
A tax on the buyers of coffee will
a. increase the price of coffee paid by buyers, increase the net price of coffee received by sellers, and increase the equilibrium quantity of coffee. b. decrease the price of coffee paid by buyers, increase the net price of coffee received by sellers, and decrease the equilibrium quantity of coffee. c. increase the price of coffee paid by buyers, decrease the net price of coffee received by sellers, and decrease the equilibrium quantity of coffee. d. increase the price of coffee paid by buyers, decrease the net price of coffee received by sellers, and increase the equilibrium quantity of coffee.
Which of the following correctly describes the condition that generates the equilibrium levels of price and aggregate output in the economy?
a. When the U.S. budget is balanced b. When aggregate quantity demanded is maximized c. When aggregate supply minus aggregate demand equals the price level d. When aggregate demand equals aggregate supply
Suppose that the United States allowed its domestic fuel producers to use ethanol made from any source (corn or sugar). What is likely to happen to U.S. production of corn ethanol and U.S. imports of sugar ethanol?
a. U.S. production of corn ethanol would increase, and U.S. imports of sugar ethanol would decrease. b. U.S. production of corn ethanol would decrease, and U.S. imports of sugar ethanol would decrease. c. U.S. production of corn ethanol would decrease, and U.S. imports of sugar ethanol would increase. d. U.S. production of corn ethanol would increase, and U.S. imports of sugar ethanol would increase.
Suppose that an economy produces 2400 units of output, employing the 60 units of input, and the price of the input is $30 per unit.
Refer to the information above. All else equal, if the price of each unit of input decreased from $30 to $20, then productivity would: A. Increase from $40 to $90 and aggregate supply would decrease B. Increase from $50 to $60 and aggregate supply would decrease C. Increase from $60 to $70 and aggregate supply would increase D. Remain unchanged but aggregate supply would increase