1121. Production costs will rise, which will:

A. Shift demand outwards
B. Shift demand inwards
C. Extend supply so that more is available at every price point.
D. Shift supply inwards *

1122. An increase in productivity should :

A. Lead to a contraction of supply
B. Lead to an expansion of supply
C. Lead to a shift in supply outward that is more supplied at each and every price *
D. Produce an equilibrium quantity that is both higher and lower.

1123. If demand increases in a market this will usually lead to :

A. A higher harmony cost and result *
B. More output and a lower equilibrium price
C. A price and output equilibrium that is lower
D. A higher harmony cost and lower yield

1124. An increase in price all other things unchanged leads to :

A. A shift in supply outwards
B. A shift in supply inwards
C. A contraction of supply
D. An extension of supply *

1125. An increase in income will :

A. Cause a change in the demand curve
B. Shift the supply curve
C. Shift the demand curve *
D. Lead to an extension of demand

1126. A reduction in the costs of production will :

A. Cause a change in the supply curve
B. Shift the demand curve
C. Shift the supply curve *
D. Lead to an extension of supply

1127. A shift in supply will have a bigger effect on price than output if demand is :

A. Income elastic
B. Income inelastic
C. Price elastic
D. Price inelastic *

1128. If the demand curve is skewed downward and the supply curve is skewed upward, a higher equilibrium price could result from:

A. An fall in demand
B. An Increase in supply
C. Improvements in production technology
D. An increase in demand *

1129. If the price was fixed below the equilibrium price there would be :

A. Excess supply
B. Excess demand *
C. Equilibrium
D. Downward pressure on prices

1130. A movement along the demand curve may by caused by :

A. A change in income
B. A change in the number of buyers
C. A change in advertising
D. A shift in supply *