A Cost Cutting Technical Advance in the Production of Cars

question 33

Multiple Choice

A cost cutting technical advance in the production of cars will cause:

• A)the demand curve for cars to rise.
• B)the demand curve for cars to fall.
• C)no change in the supply of, or demand for cars.
• D)a rightward shift in the supply curve of cars.
• E)a leftward shift in the supply curve for cars.

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Definitions:

Signature Requirement

A legal stipulation that certain documents must be signed to be recognized as valid or to enter into effect.

Order Paper

A negotiable instrument that is payable to a specific individual or entity, as named or identified in the document.

Drawee

The drawee is the party in a financial transaction, usually a bank, upon whom a check or draft is drawn and is responsible for paying the amount specified.

Maker

In financial terms, the party that creates or issues a promissory note, obligating themselves to pay a certain sum to a specified party.