Distinguish between a change in quantity supplied and a change in supply
What will be an ideal response?
A change in quantity supplied is a movement along the supply curve caused by a change in the price of the good. An increase in price causes an increase in quantity supplied. A change in any of the other determinants of supply cause a change in supply. When there is a change in supply, the entire supply curve shifts either to the right or to the left.
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Countries with high population growth rates tend to have lower levels of educational attainment
a. True b. False Indicate whether the statement is true or false
Which of the following would NOT increase British exports to the United States?
A. an appreciation of the British pound B. a depreciation of the British pound C. an appreciation of the U.S. dollar D. an increase in British demand for U.S. exports