If Something Happens to Alter the Quantity Supplied at Any

question 53

Multiple Choice

If something happens to alter the quantity supplied at any given price, then

• A)we move along the supply curve.
• B)the supply curve shifts.
• C)the supply curve becomes steeper.
• D)the supply curve becomes flatter.

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Definitions:

Simple Interest

Interest calculated based only on the principal amount, ignoring the effect of compounding.

Interest

The cost of borrowing money or the return on investment for savings and investments, often expressed as a percentage.

Compounded Annually

Calculating interest on both the initial principal and the accumulated interest from previous periods on an annual basis.

Future Value

A specified future date's value of an asset or cash, which is equivalent to a certain amount of money today.