A Decrease in Supply

question 107

Multiple Choice

A decrease in supply:

• A)refers to a leftward shift in the supply curve.
• B)refers to a downward movement along a supply curve.
• C)has the same meaning as the phrase "a decrease in quantity supplied."
• D)is likely to result from the decrease in the price of a productive resource.

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Definitions:

Converted to Cash

Transforming assets or securities into liquid cash through sale or redemption.

NSF Check

A check that cannot be processed because the drawer's account does not have sufficient funds, standing for "Non-Sufficient Funds."

Monthly Service Charge

A fee charged by a financial institution to maintain an account, often depending on the type of account or the balance maintained.

Bank Reconciliation

The process of comparing and adjusting the balance shown in a company’s bank statement with the amount appearing in the company’s own records.