When Economists Say the Quantity Supplied of a Product Has

question 34

Multiple Choice

When economists say the quantity supplied of a product has increased, they mean the

• A) supply curve has shifted to the left.
• B) supply curve has shifted to the right.
• C) price of the product has risen, and consequently, suppliers are producing more of it.
• D) price of the product has fallen, and consequently, suppliers are producing less of it.

---

Definitions:

Historical Significance

The importance of an event, object, or person in affecting the course or understanding of history, meriting attention and study.

Cotton

A natural fiber harvested from the cotton plant, which became the foundation of a lucrative agricultural industry in the southern United States, largely based on slave labor before the Civil War.

Peculiar Institution

A euphemism for slavery in the antebellum South, emphasizing its distinctive and controversial nature.

White Southerners

Refers to the Caucasian population living in the Southern United States, especially significant in discussions of the Civil War and its aftermath.