Assume that the supply curve for tomatoes is upward sloping. If the price per pound increases from $0.99 to $1.89, a greater quantity of tomatoes will be supplied to the market
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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When the price level rises as a result of a decrease in aggregate supply, it is called cost-push inflation
a. True b. False Indicate whether the statement is true or false
Economics
The only way to increase the size of the real GDP in the ____________ zone of the SRAS curve is for AS to shift to the right.
a. neoclassical b. intermediate c. Keynesian d. Say
Economics
Which of the following is an example of an indirect tax?
A. Value-added tax B. Income tax C. Inheritance tax D. Head tax
Economics
A barrier to entry prevents ________ a monopolistic industry.
A. new firms from entering and competing in B. government regulation of C. economic losses in D. firms from exiting
Economics