If occupational safety laws were changed so that firms no longer had to take expensive steps to meet regulatory requirements, we would expect
a. the demand for the products of this industry to increase.
b. the market price of the products of this industry to decrease in the short run but not in the long run.
c. the firms in the industry to make long-run economic profit.
d. competition to force producers to pass the lower production costs on to consumers in the long run.
D
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Which of the following events would cause the supply curve to decrease from S1 to S2?
A. lower expected future prices B. an increase in the price of inputs C. an increase in the number of firms in the market D. a decrease in the price of inputs
A higher savings rate that leads to an increase in the capital stock
A) leads to higher interest rates. B) leads to increases in labor productivity. C) immediately decreases investment. D) is associated with a decrease in the rate of growth of the population.