When economists say the quantity supplied of a product has increased, they mean the:
a. supply curve has shifted to the left.
b. supply curve has shifted to the right.
c. price of the product has risen, and consequently, suppliers are producing more of it.
d. price of the product has fallen, and consequently, suppliers are producing less of it.
c
Economics
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The existence of an underground economy,
a. tends to overstate the actual value of GDP b. tends to accurately portray the value of GDP c. tends to understate the actual value of GDP d. undermines GDP equilibrium e. undermines GDP and national income equilibrium
Economics
If you are a banker, should you consider the nominal or real interest rate when deciding which rate to charge for a loan? Explain.
What will be an ideal response?
Economics