An increase in supply is caused by:
A) an increase in resource prices.
B) suppliers' expectations of higher prices in the future.
C) an increase in the price of a good using the same resources.
D) a decrease in the price of a good using the same resources.
Ans: D) a decrease in the price of a good using the same resources.
You might also like to view...
If purchases of eduction and medical care were counted as investment rather than consumption, GDP would
A) not change, because there is no change in total expenditures B) increase, because investment is included in GDP but consumption is not C) increase, because consumption is included in GDP, but investment is not D) decrease, because investment is weighed more heavily than consumption in GDP E) decrease, because consumption is weighed more heavily in calculating GDP
Which of the following statements is (are) true?
A) A model is a set of simplifying assumptions about some aspect of the real world. B) Models are based on assumed conditions that are simpler than those of the real world. C) A model cannot be a complete representation of the real world. D) All of the above are true.