Which of the following will shift the supply curve of good X rightward?
a) the price of Y, a substitute in production for good X, rises
b) an increase in the cost of capital used to produce good X
c) an increase in the price of energy
d) a decrease in the number of suppliers of good X
e) a decrease in the wages of workers employed to produce good X
Ans: e) a decrease in the wages of workers employed to produce good X
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Which of the following groups believes that the economy can achieve full employment without inflation through tax reductions, lower resource prices, and deregulation?
a. Classical school. b. Keynesian school. c. Neo-Keynesian school. d. Rational expectations school. e. Supply-side school.
In the market for oranges, availability of substitutes limits a single seller's power over price
Indicate whether the statement is true or false