Assume that a worker in a technology firm can produce 3 circuit boards in an hour. Due to subsequent innovation, he is now able to produce 6 circuit boards per hour. Other things remaining the same, the firm's supply curve is likely to:

President Obama has discussed raising income taxes for individuals earning over $250,000 in income. Explain how these higher income taxes will affect the aggregate demand curve

What will be an ideal response?

Prices of commercial airline tickets (assume that this is a normal good) have fallen in recent months. Over this same period, the price of jet fuel has risen and consumer incomes have fallen

Which of the following best explains the falling prices of airline tickets? A) The supply curve for airline tickets has shifted to the left while the demand curve for airline tickets has shifted to the right. B) The demand curve for airline tickets has shifted to the left more than the supply curve has shifted to the left. C) The supply curve for airline tickets has shifted to the left more than the demand curve has shifted to the left. D) The demand curve and the supply curve for airline tickets have both shifted to the right.