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Which of the following best describes the economic effect that results from the government having budget surplus?
Demand increases, pushing producers to increase supply --> overal demand decreases, reducing the incentivefor producers to icrease production
What is it called when the government uses some tool other than money to allocate goods?
supply management
What effect did they have on the government?
they were up against there backs
Increased government regulations can cause the supply curve to?
Shift down
The Thomas Register is a government-managed list of potential sources of supply?
True
How do falling prices effect supply?
The supply curve shifts to the left
Why was it important for the states to have a central government?
for dealing with issues that effect all parts of the country equally national defense the monetary supply control of national borders
When the government prevents prices from adjusting naturally to supply and demand?
Government regulation occurs when the government prevents prices from adjusting naturally to supply and demand.
Illstrurate te effect od subsidy in a market by using a demand and a supply diagram?
use a demand and supply diagram to illustrate the effect of a subsidy.
What best explains why the law of supply and demand has an effect on labor market?
In the law of supply and demand the effect on the Labor Market is that labor is a commodity.Labor is a commodity
How do government regulations effect economic behavior?
Effect of Government Regulations on Economic Behavior
Will government tax per unit of output reduces supply?
Yes; a government tax per unit of output reduces supply.
In an aggregate demand-aggregate supply diagram what will equal decreases in government spending and taxes do?
No effect. Spending will decrease Aggregate Demand, lower taxes will raise Aggregate Demand
How can taxes and subsidies effect in supply?
Taxes can decrease the supply when they are raised and increase the supply when they are lowered. Subsidies, on the other hand, can raise the supply when raised and lower the supply when they are lowered.
What effect will a price ceiling imposed by the goveenment have on the supply of farms producing wheat?
"What effect will a price ceiling imposed by the goveenment have on the supply of farms producing wheat?"
How did supply and demmand effect the price of cattle?
Hoe did supply and demand affect the price of cattle
How is supply affected by government subsidies?
When the government subsidizes a particular product, such as wheat, it becomes more profitable to produce and therefore the supply increases.
