A. shift out in a parallel fashion
B. shift in a parallel fashion
C. Become steeper
D. Become flatter
Related Mcqs:
- If the relative Price (MRT) of T were to increase, then the price line would ?
A. Shift out in a parallel fashion
B. shift in a parallel fashion
C. become steeper
D. Become flatter - The Relative price (MRT)of S in terms of T i ?
A. 2
B. 1/2
C. 00
D. 1000 - The relative price (MRT) of T in terms of S is ?
A. 2
B. 1/2
C. 500
D. 1000 - Suppose the price level falls but suppliers only notice that the price of their particular product has fallen Thinking there has been a fall in the relative price of their product they cut back on production, This is a demonstration of the ?
A. misperceptions theory of the short run aggregate supply curve
B. classical dichotomy theory of the short run aggregate supply curve
C. sticky price theory of the short run aggregate supply curve
D. sticky wage theory of the short run aggregate supply curve - An increase in price from 25 pence to 30 pence leads to an increase in the quantity supplied from 40 units to 44 units. The price elasticity of supply is ?
A. +2
B. +0.5
C. -2
D. -0.5 - Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?
A. sell 4 million pounds of tin
B. sell 8 million pounds of tin
C. buy 4 million pounds of tin
D. buy 8 million pounds of tin - Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?
A. purchase; decrease
B. purchase; increase
C. sell; increase
D. sell; decrease - The Phillips curve is an extension of the model of aggregate supply and aggregate demand because, in the short run, an increase in aggregate demand increase price and ?
A. decreases unemployment
B. decrease growth
C. increases unemployment
D. decreases inflation - If a 4% increase in price leads to a increase in the quantity supplied of 8% ?
A. Supply is price elastic
B. Supply is income elastic
C. Price elasticity of demand is -2
D. Price elasticity of supply is -2 - If an increase in the price of blue jeans leads to an increase in the demand for tennis shoes, then blue jeans and tennis shoes are ?
A. Complements
B. inferior goods
C. normal goods
D. none of these answers
E. Substitutes
