Homework Answers
Answer:
1. leftward shift of the supply curve.
reason: All else constant, when the price of an input increases, the supply curve shifts inward, to the left. This shift indicates that the supplier will supply less at each given price level.
2. False
reason: When there is a change in quantity supplied it is in response to a change in price. This change is indicated by a movement along the supply curve. A shift in the supply curve happens due to other factors than price.
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Question 40 An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price: To...
Question 40 An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price: To rise and quantity to fall. To fall and quantity to rise. And quantity to rise. And quantity to fall Question 41 Assume two goods are substitutes. Ceteris paribus, a decrease in the price of one good will cause the equilibrium price of the other good to: Increase and the equilibrium quantity of the other good to increase Increase and the equilibrium quantity of the...
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1. Which of the following represents the law of supply? An increase in the price of...
1. Which of the following represents the law of supply? An increase in the price of a good causes a rightward shift of the supply curve for that good. An increase in the price of a good causes an increase in the supply of that good. An increase in the price of a good causes an increase in the quantity supplied of that good. all of the above 2. The quantity supplied of a particular good is the amount of...
Ceteris Paribus, an increase in the price of a complement will cause which of the following...
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True or False. Ceteris paribus, an increase in the domestic price level increases the price of...
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A5-6. Ceteris paribus, an increase in the domestic price level increases the price of domestic goods...
A5-6. Ceteris paribus, an increase in the domestic price level increases the price of domestic goods increases their price relative to foreign goods resulting in a downward shift of aggregate expenditures and a leftward shift of the aggregate demand curve. True, False Uncertain? Explain in detail.
50. Ceteris paribus, the total demand for money curve will increase (shift rightward): A. if interest...
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