If the price of inputs increases, the
A. supply curve will shift to the left.
B. supply curve will shift to the right
C. demand curve will shift to the left.
D. demand curve will shift to the right.
Answer: A
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The prices of certain goods, such as ice and gasoline, often increase after a natural disaster such as a hurricane. The economic explanation for this observation is that
A) people panic in disaster situations. B) disasters bring out the worst in people. C) the disaster temporarily reduces the supply of the goods and increases the demand for the goods. D) the disaster temporarily reduces the supply of the goods and reduces the demand for the goods.
The principal of a loan is the:
A. set of rules and conditions borrowers agree to when taking out a loan. B. original amount of the loan. C. set of rules and conditions savers agree to when agreeing to let someone borrow their money. D. original amount that people want to borrow.