A more efficient means of processing tree bark to produce an anticancer drug is discovered. As a result, the supply curve for the drug will:
a. shift to the right, increasing the price of the drug.
b. shift to the left, increasing the price of the drug.
c. shift to the right, decreasing the price of the drug.
d. shift to the left, decreasing the price of the drug.
c
Economics
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If real GDP is $10 trillion and the velocity of circulation is 2, the quantity of money
A) is $2 trillion. B) is $5 trillion. C) is $20 trillion. D) cannot be determined from the information given.
Economics
A tax where wealthy people pay a larger percentage of their income than poor people is known as a(n):
a. excise tax. b. flat tax. c. proportional tax. d. progressive tax. e. regressive tax.
Economics