If in the market for oranges the supply has increased, then
A) the supply curve for oranges has shifted to the left.
B) the supply curve for oranges has shifted to the right.
C) there has been a movement upwards along the supply curve for oranges.
D) there has been a movement downwards along the supply curve for oranges.
B
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How would a negative real shock be represented in the AS/AD model?
A. As a leftward shift of the long-run aggregate supply curve that reduces growth and increases inflation. B. As a rightward shift of the long-run aggregate supply curve that reduces growth and increases inflation. C. As a leftward shift of the long-run aggregate supply curve that increases growth and reduces inflation. D. As a rightward shift of the long-run aggregate supply curve that increases growth and reduces inflation.
In an economy with no taxes, an income level of $400 billion, consumption of $300 billion, and government spending of $25 billion, saving is equal to
A) $25 billion. B) $100 billion. C) $275 billion. D) $375 billion.