Homework Answers
Ans.5- Time
Change in price of all the other factors will shift supply curve.
Ans.6- True.
A market clearing price occurs where quantity demanded= Quantity supplied.
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Question 5 of 27 Shift factors for the supply curve include changes in price of productive...
5. Improvements in technology that reduce production costs cause the _____ curve to shift to the _____, indicating a(n)...
5. Improvements in technology that reduce production costs cause the _____ curve to shift to the _____, indicating a(n) _____ in the amount _____ at each price point.A.demand; right; increase; demandedB.supply; left; decrease; suppliedC.demand; left; decrease; demandedD.supply; right; increase; supplied6. Assume a farmer’s land is equally productive in growing corn or potatoes and is currently producing both. If the price of corn increases but the price of potatoes does not change, the farm’s supply curve for potatoes will:A.shift to the...
11)A supply curve that is horizontally sloped is an accurate representation of the law of supply...
11)A supply curve that is horizontally sloped is an accurate representation of the law of supply given ceteris paribus when only price changes for a good is a: (a)False statement (b)True statement (c)More information needed to respond (d)All of the above (12)Positive economic analysis deals with_________________________ and normative economic analysis deals with_____________________ (a)What should be, what is (b)What is, what ought to be (c)Fiction, fact (d)Positive things, negative things (13)If given ceteris paribus there is a positive correlation between annual...
factors that shift the AD Curve include A) government purchases B) autonomous investment C) taxes D)...
factors that shift the AD Curve include A) government purchases B) autonomous investment C) taxes D) all of the above E) none of the above 33. If government cuts taxes A) after tax income should increase shifting AD to the left to a lower cu B) after tax income should increase shifting AD to the right to a higher eq output C) after tax income and the equilibrium level of output remain unchanged D) after tax income remains unchanged but...
5&6 5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift...
5&6
5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift to the right. B. aggregate supply curve would shift to the left. C. aggregate supply curve would shift to the right. D. aggregate demand curve would shift to the left. Please answer question 6 by referring to the following Aggregate Supply curve. Price level AP Aggregate Supply "Flat" range FOREVE Real GDP 6. The flat portion of the Aggregate Supply curve is characterized by...
Question 11 of 27 A market clearing condition occurs when price floors are set at or...
Question 11 of 27 A market clearing condition occurs when price floors are set at or below the equilibrium price Select above the equilibrium price at or below the equilibrium price at a price that yields a surplus Question 12 of 27
Other things remain unchanged, the market demand curve for a particular product is expected to shift leftwards when the price of that product declines.
Other things remain unchanged, the market demand curve for a particular product is expected to shift leftwards when the price of that product declines.Question 1 options:TrueFalseQuestion 2Other things remain equal, which of the following factors causes the market supply curve of Blue-ray players to shift leftwards?Question 2 options:The costs of producing a single Blue-ray player increases.The number of firms selling Blue-ray players increases.The sellers are expecting the price of Blue-ray players to decline in the soon future.Non of the above...
Remember: Changes in supply determinants shift supply, and changes in demand determinants shift demand. We say...
Remember: Changes in supply determinants shift supply, and changes in demand determinants shift demand. We say that a shift of supply does not cause a shift of demand, and vice-versa, because it is the adjustment of the market price (via the elimination of temporary shortages and surpluses) that allows the market to arrive at an equilibrium price that causes a stable condition where quantity supplied = quantity demanded. Please analyze the following scenario with a graph, accompanied by a complete...
Question 27 2 pts Which of the following causes the SRAS curve to shift right? An...
Question 27 2 pts Which of the following causes the SRAS curve to shift right? An increase in the price of a major input like steel An increase in government spending An increase in the country's physical capital An increase in exports Question 28 2 pts According to what was stated in class, which of the following would shift the LRAS curve right? An increase in the population's education level A decrease in labor hours An increase in the actual...
a price ceiling often results in a shortage True or False? A price ceiling often results...
a price ceiling often results in a shortage
True or False? A price ceiling often results in a shortage, which occurs when the market price is below the equilibrium price. Select one: True False If price changes, what happens to the demand curve? Select one: a. It shifts right b. It shifts left c. There is no shift, only a movement along the demand curve, d. It shifts down Using the following graph, what does Point x signify doo D...
Consider any two factors (determinants) that cause the supply curve to shift for the company you...
Consider any two factors (determinants) that cause the supply curve to shift for the company you work or one you have worked for in the past. Then, explain what these two factors are, what caused these two factors to change, and how your firm dealt with these changes. Did the changes have the expected or predicted effects on price (P) and quantity (Q)?
factors that shift the AD Curve include A) government purchases B) autonomous investment C) taxes D) all of the above E) none of the above 33. If government cuts taxes A) after tax income should increase shifting AD to the left to a lower cu B) after tax income should increase shifting AD to the right to a higher eq output C) after tax income and the equilibrium level of output remain unchanged D) after tax income remains unchanged but...
5&6
5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift to the right. B. aggregate supply curve would shift to the left. C. aggregate supply curve would shift to the right. D. aggregate demand curve would shift to the left. Please answer question 6 by referring to the following Aggregate Supply curve. Price level AP Aggregate Supply "Flat" range FOREVE Real GDP 6. The flat portion of the Aggregate Supply curve is characterized by...
Question 11 of 27 A market clearing condition occurs when price floors are set at or below the equilibrium price Select above the equilibrium price at or below the equilibrium price at a price that yields a surplus Question 12 of 27
Question 27 2 pts Which of the following causes the SRAS curve to shift right? An increase in the price of a major input like steel An increase in government spending An increase in the country's physical capital An increase in exports Question 28 2 pts According to what was stated in class, which of the following would shift the LRAS curve right? An increase in the population's education level A decrease in labor hours An increase in the actual...
a price ceiling often results in a shortage
True or False? A price ceiling often results in a shortage, which occurs when the market price is below the equilibrium price. Select one: True False If price changes, what happens to the demand curve? Select one: a. It shifts right b. It shifts left c. There is no shift, only a movement along the demand curve, d. It shifts down Using the following graph, what does Point x signify doo D...
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