Which of the following is not likely to change the supply of laptops?
A. An increase in consumers' incomes
B. A decrease in the wage paid to electrical engineers
C. A technological breakthrough that makes it much less costly to produce computer chips
D. An increase in taxes on computer chips paid by producers
Answer: A
You might also like to view...
In the case of a small country, the effects of a quota and a tariff are (almost) identical if
A. the government allocates import licenses directly to the public using a free lottery system. B. the government allocates licenses for free to importers using a rule or process that involves (almost) no resource cost. C. the government allocates licenses to importers through application and selection procedures that require the use of substantial resources. D. the government auctions off import licenses to the highest bidder.
All of the following statements about inflation in the United States are correct except
A. Since the Great Depression, average prices have risen almost every year. B. The inflation rate was 13.5 percent in 1980. C. Inflation was at its worst during the Great Depression. D. Prior to World War II, the United States experienced periods of both deflation and inflation.