A Supply Curve Slopes Upward Because

question 95

Multiple Choice

A supply curve slopes upward because

• A)as more is produced,total cost of production falls.
• B)an increase in input prices increases supply.
• C)the quantity supplied of most goods and services increases over time.
• D)an increase in price gives producers an incentive to supply a larger quantity.

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Definitions:

Assets

Resources owned or controlled by a person or entity that are expected to produce value or economic benefit in the future.

Balance Of Payments

A statement that summarizes a country’s transactions with the rest of the world, including trade, financial transfers, and investments.

Negative Balance

A situation in financial accounts where the amount spent exceeds the amount available or deposited.

Euro

The common currency in most of Western Europe.