Resource X is necessary to the production of good Y. If the price of resource X rises,
A) the supply curve of Y shifts leftward.
B) the supply curve of Y shifts rightward.
C) the supply curve of Y is unaffected.
D) there is a movement down the supply curve of Y.
E) there is a movement up the supply curve of Y.
A
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The difference between microeconomics and macroeconomics is that
A) microeconomics looks at supply and demand for goods, macroeconomics looks at supply and demand for services. B) microeconomics looks at prices, macroeconomics looks at inflation. C) microeconomics looks at individual consumers, macroeconomics looks at national totals. D) microeconomics looks at national issues, macroeconomics looks at global issues.
In the Keynesian model, suppose the Fed sets a target for the real interest rate
If the IS curve shifts down and to the left, and the Fed wants to keep output unchanged in the short run and the price level unchanged in the long run, what should the Fed do? Use the LR curve to formulate your answer.
Many economists and policymakers have raised concerns about crowd funding due to the existence of:
A) information costs facing small investors B) information costs facing business start ups C) transaction costs facing business start ups D) increased competition for banks in funding business start ups
If the cost of labor decreases the isocost line will
A) stay the same. B) shift outward in parallel fashion. C) rotate outward around the point where only capital is employed in production. D) shift inward in parallel fashion.