Assuming a downward sloping demand curve and upward sloping supply curve a higher equilibrium price may be caused by ?
A. An fall in demand
B. An increase in supply
C. improvements in production technology
D. An increase in demand
A. An fall in demand
B. An increase in supply
C. improvements in production technology
D. An increase in demand
A. a normal good
B. none of these answers
C. an inferior good
D. a substitute good
A. prices, wages, output and employment
B. output prices, employment
C. nominal money, the price level, output and employment
D. nominal money output prices
A. differences in technology
B. differences in factor endowments
C. scale economies
D. All of the above
A. the principle of comparative advantage
B. the principle of absolute advantage
C. an outward-looking growth strategy
D. an inward-looking growth strategy
A. Lead to a movement along the supply curve
B. Shift the demand curve
C. Shift the supply curve
D. Lead to an extension of supply
A. a decline in fertility
B. The demographic transition from stage 3 to stage 2
C. increases in the ratio of labor to capital
D. an increase in the dependency ratio