Assume that Ford Motor Company engineers achieve a revolutionary technological breakthrough in the production process of automobiles. Which of the following is expected to take place?
a. A movement up along the existing supply curve for Ford automobiles
b. The supply of Ford automobiles will remain unchanged
c. An inward shift of the supply curve for Ford automobiles
d. A downward movement along an existing supply curve for Ford automobiles
e. An outward shift of the supply curve for Ford automobiles
e
You might also like to view...
If a nation is a net importer it means that the:
A) nation only imports goods and services and does not export any good. B) nation only imports those goods in which it has an absolute disadvantage. C) nation's imports are worth more than exports over a given period of time. D) nation prohibits the import of goods and services that can be produced domestically.
You and a friend are arguing over the issue of the nonneutrality of money. You believe that money is not neutral, and to prove your point you would cite all of the following except
A) large gold discoveries that increased the money supply preceded an economic boom. B) a change in monetary institutions preceded a boom or recession. C) a change in the leadership of the Fed and its policy was followed by noticeable changes in the money supply and a recession or inflation. D) the fact that every recession was preceded by a drop in the money supply.