If there is a change in the U.S. endowment of factors of production, then there would be
A) shifts in just SRAS. B) a movement along the SRAS curve.
C) a shift in both LRAS and SRAS. D) a shift in just LRAS.
C
Economics
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Suppose a market is in equilibrium and then a price ceiling is established below the equilibrium price. Which of the following will happen?
a. quantity demanded will decrease b. a surplus will develop c. a shortage will develop d. the quantity sold will rise e. the market will remain in equilibrium
Economics
A positive externality is:
A. an external cost that affects the buyer. B. a benefit that affects the buyer, not the seller. C. an external cost that affects the seller. D. an external benefit.
Economics