An increase in the equilibrium quantity of good B can be caused by
A. a technological improvement in the process of producing good B.
B. an increase in the price of good B.
C. a reduction in the number of producers of good B.
D. an increase the price of inputs utilized in producing good B.
Answer: A
You might also like to view...
The type of unemployment that arises from a decrease in real GDP is called
A) frictional unemployment. B) structural unemployment. C) downturn unemployment. D) non-expansion unemployment. E) cyclical unemployment.
At present, the United States uses a system of quotas to limit the amount of sugar imported into the country. Which of the following statements is most likely true?
a. The quotas are probably the result of lobbying from U.S. consumers of sugar. The quotas increase consumer surplus for the United States, reduce producer surplus for the United States, and harm foreign sugar producers. b. The quotas are probably the result of lobbying from U.S. producers of sugar. The quotas increase producer surplus for the United States, reduce consumer surplus for the United States, and harm foreign sugar producers. c. The quotas are probably the result of lobbying from foreign producers of sugar. The quotas reduce producer surplus for the United States, increase consumer surplus for the United States, and benefit foreign sugar producers. d. U.S. lawmakers did not need to be lobbied to impose the quotas because total surplus for the United States is higher with the quotas than without them.