Over a period of time, the equilibrium price of a good increases and the quantity decreases. All of the following could account for this situation, except:
A. An increase in the costs of production
B. The removal of a subsidy on the good or service
C. The imposition of a sales tax on the good or service
D. A decrease in the price of an alternative good or service that producers could also produce
D. A decrease in the price of an alternative good or service that producers could also produce
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An increase in fiscal deficit spending financed by borrowing will increase the national debt
a. True b. False Indicate whether the statement is true or false
Which of the following is true about the relationship between price and quantity supplied?
A) There is always a direct relationship between price and quantity supplied. B) There is always an inverse relationship between price and quantity supplied. C) There is usually a direct relationship between price and quantity supplied. D) There is usually an inverse relationship between price and quantity supplied.