Which of the Following Statements Is Consistent with an Increase

question 183

Multiple Choice

Which of the following statements is consistent with an increase in supply?

• A) The price of labor input has increased.
• B) There has been an advance in technology.
• C) Consumers' incomes have increased.
• D) The market price has decreased.

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Definitions:

Activity or Transaction

An economic event that involves a transfer or exchange of goods, services, or money between parties.

Environmental Economics

A subfield of economics dealing with the relationship between the economy and the environment, focusing on environmental policies and economic consequences.

Externalities

Economic side effects or consequences that affect uninvolved third parties; can be positive or negative.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by everyone and one person's use does not reduce availability to others, such as clean air.