A Technological Advancement in Recycling Made It Possible to Produce

question 71

Multiple Choice

A technological advancement in recycling made it possible to produce a greater quantity of paper from a given quantity of recyclednewspapers. Recycled paper is used to produce notebooks. According to the given scenario, which of the following statements will be true?

• A)There will be a movement down along the supply curve of notebooks.
• B)There will be a movement up along the supply curve of notebooks.
• C)The supply curve for notebooks will shift to the left.
• D)The supply curve for notebooks will shift to the right.
• E)The supply curve for notebooks will become steeper.

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Definitions:

Percent Change

A mathematical calculation that shows how much a quantity has increased or decreased as a percentage of its previous value.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of financial transactions.

Transaction Posted

The act of recording a financial transaction in the accounting records of a company.

Debit

A ledger entry contributing to the growth of assets or lessening of liabilities in a company's financial statement.