An increase in the supply of the product implies:
A. producers will now charge a higher price for a given quantity of output.
B. the supply curve will shift to the left.
C. the price of this product has increased.
D. producers will now charge a lower price for a given quantity of output.
Answer: D
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Total profit of a competitive firm can be found by multiplying profit per unit and units sold.
Answer the following statement true (T) or false (F)
Which statement best describes the immediate post-slavery experience for ex-slaves?
a. They were able to engage fully in the economic, social and political activities in their towns. b. Freedmen took advantage of the educational opportunities available to them and had education rates equal to those of whites. c. Most freedmen immediately moved north. d. Their life expectancies increased dramatically. e. Their income increased relative to the income of whites.
In the market for Canadian dollars measured in US dollars, the demand for US dollars is
a. The supply of Canadian dollars b. The demand for Canadian Dollars c. The supply of US dollars d. None of the above
Name two macroeconomic variables that decline when an economy goes into recession, and name one macroeconomic variable that rises