Which of the following increases the quantity supplied of good X but does NOT increase the supply of good X?
A) a fall in the price of a factor production used to produce X
B) an advance in the technology for producing X
C) an increase in the price of good Y, a complement in the production of X
D) an increase in the price of X
D
Economics
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Corporate profits are taxed by state and local governments, but not by the federal government
Indicate whether the statement is true or false
Economics
Which of the following is an essential feature of any economic system?
a. absolute advantage b. the profit motive for producers c. a voting procedure for choosing leaders d. prices determine resource allocation e. scarce resources
Economics