A rightward shift of the supply curve will lead to a(n)
A) decrease in equilibrium price.
B) excess supply at the old equilibrium price.
C) increase in quantity demanded.
D) All of the above.
D
You might also like to view...
Keynesians argue that the crowding-out-effect is rather insignificant. True or False
Refer to Table 5.2. This table shows the number of labor hours required to produce a bicycle and a harmonica in Germany and Sweden
a. Which country has an absolute advantage in the production of bicycles? b. Which country has an absolute advantage in the production of harmonicas? c. What is Germany's opportunity cost of producing one bicycle? d. What is Sweden's opportunity cost of producing one bicycle? e. What is Germany's opportunity cost of producing one harmonica? f. What is Sweden's opportunity cost of producing one harmonica? g. If each country specializes in the production of the product in which it has a comparative advantage, who should produce bicycles? h. If each country specializes in the production of the product in which it has a comparative advantage, who should produce harmonicas?
The prime rate
A) is charged by high quality corporations to each other. B) is charged by banks to each other. C) is charged by the Federal Reserve to member banks. D) is charged by banks to high quality corporations. E) fluctuates on a day-to-day basis as do other rates.
A key to gaining cooperative behavior in a repeated game is:
A. there must be a definitive end to the game. B. that the game must be repeated indefinitely. C. the players must commit to always acting in their own self-interest. D. at least one player must have a dominant strategy.