Which of the following would cause an increase in quantity of wheat supplied?
A. The price firms pay for liability insurance falls.
B. New, better technology for farming is introduced.
C. The price farmers receive for their wheat rises.
D. The price of fertilizer farmers use in their fields falls.
Answer: C
You might also like to view...
The law of supply states that the quantity supplied of a good and
a. the price of a key input are inversely related b. its price are inversely related c. the price of a key input are positively related d. its price are positively related e. the price of an alternate good are positively related
Under the gold standard, a nation with a balance of payments deficit would experience a gold:
A. inflow and an increase in its money supply. B. inflow and a reduction in its money supply. C. outflow and an increase in its money supply. D. outflow and a reduction in its money supply.
A vertical demand curve
A) is impossible. B) reasonably represents demand for essential goods. C) has a price elasticity of negative infinity since people will pay an infinite amount for the good. D) represents a normal good.
In events leading to the collapse of the housing bubble, inflated home values created a:
A. wealthier economy, which caused economic growth. B. false sense of wealth, which increased aggregate demand. C. false sense of wealth, which spurred economic growth to decrease. D. wealthier economy, which caused inflation.