Which of the following is a non-price determinant of supply?
A) the price of related goods consumers may buy
B) technological advances in production
C) consumers' incomes
D) the number of consumers
Answer: B
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Comparing the distribution of wealth of the wealthiest 1% of the population in the United States before and after the recent Great Recession to what occurred before and after the Great Depression,
A) the percentage of the wealth of the wealthiest 1% increased after the recent Great Recession, unlike what happened after the Great Depression B) the percentage of the wealth of the wealthiest 1% increased after the recent Great Recession, similar to what happened after the Great Depression. C) the percentage of the wealth of the wealthiest 1% declined after the recent Great Recession, unlike what happened after the Great Depression. D) the percentage of the wealth of the wealthiest 1% declined after the recent Great Recession, similar to what happened after the Great Depression.
Suppose you win a small lottery and you are given the following choice: You can receive (1) an immediate payment of $10,000 or (2) two annual payments, each in the amount of $5,200, with the first payment coming one year from now, and the second payment coming two years from now. You would choose to take the immediate payment of $10,000 if the interest rate is
a. 2 percent, but not if the interest rate is 1 percent. b. 3 percent, but not if the interest rate is 2 percent. c. 4 percent, but not if the interest rate is 3 percent. d. 5 percent, but not if the interest rate is 4 percent.