An increase in the number of producers of a good will

a. increase the market supply because the price will rise
b. increase the market supply only if market demand increases too
c. increase the market supply because market supply is the sum of all individual supply curves
d. increase the market supply only if all suppliers have an identical supply curves
e. decrease the market supply because firms compete with each other and each firm will supply more

C

Economics

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Chain-weighted price indices are constructed such that

A) all years' levels of GDP are directly related to a base year level of GDP. B) prices of one good can be directly compared with prices of other goods. C) prices in different years can be directly compared with one another. D) prices in different economies can be directly compared with one another.

Economics

If the price of a good rises, then the effect on the income of the factors that are used intensively in its production will be

A) to raise income by an absolute amount that is less than the rise in prices. B) to raise income by an absolute amount that is more than the rise in prices. C) to raise income by a smaller percentage than the rise in prices. D) to raise income by a greater percentage than the rise in prices. E) to cause income to fall.

Economics