Which of the following is true of an increase in quantity supplied of a given good?
a. It is represented by a rightward shift in the supply curve.
b. It could result from a technological improvement.
c. The price of a key resource used to produce the good may have decreased.
d. It is caused by an increase in the price of the good.
e. The price of an alternative good has increased.
D
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The absolute poverty line looks at _____________, and the relative poverty line captures ____________
A. who cannot afford the basic necessities; what people can afford compared to those around them. B. what people can afford compared to those around them; who cannot afford the basic necessities. C. the percentage of the population that falls within the lowest quartile of income earners; the percentage of the population that earns 40 percent less than the median income. D. the percentage of the population that falls within the lowest quartile of income earners; what people can afford compared to those around them.
A shift from S1 to S2 causes equilibrium price to __________ and quantity to __________.
A. rise; rise
B. fall; fall
C. rise; fall
D. fall; rise
Refer to the above table. The change in income in round two will be:
Answer the following question based on the table below which illustrates the multiplier process resulting from an autonomous increase in investment by $5.
A. $0.94
B. $2.81
C. $3.75
D. $4.00
Other things being equal, the quantity theory of money suggests that any increase in the money supply
A) results in a decrease in the aggregate price level. B) causes the aggregate level of nominal Gross Domestic Product (GDP) to fall. C) causes a reduction in the demand for money. D) results in a proportionate increase in the price level.