16. A movement along a supply curve is a change in the quantity supplied of a go

Question

16. A movement along a supply curve is a change in the quantity supplied of a good arising from a change in the goods A. Demand B. Input C. Supply D. Price 17. The law of things being equal, leads people to demand a mr fba says that a higher price for a good or service,other A. Supply B. Demand C. Diminishment D. Inflation good or 18. When a rise in income increases the demand for a good, it is a A. Inferior Good B. Normal Good C. Top Good D. Opportunity Good shift of the supply curve. 19. An increase in supply leads toa A. leftwarod B. rightward C upward D. downward is a rising overall level of prices 20 A. Recession B. Deflation C. Inflation D. Flatness 21. Goods and Service sold to other countries are A. Imports B. Inventories C. Exports D. Investments

Explanation / Answer

Q16
Answer
Option D
Price
the price and quantity are positively related as per law of supply when other things are constant.

Q17
Answer
Option B
The law of demand says that increase in price decreases quantity and vice versa when other things are constant.
Q18
Answer
Option B
Normal good
The quantity demanded and income are positively related to the normal good and negatively for inferior good
Q19
Answer
Option B
The increase in supply leads to a rightward shift because the quantity supplied increases at all the prices.

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.