Shifts in Supply: Impact of events on supply of US-made Is there a change in supply Does the supply curve of Should US auto firms (ΔS) or a change in quantity cars shift to the right or left Headline produce more or less? supplied (ΔQS)? or no shift? Auto workers’ Union More / Less / Right / Left / No shift ΔS ΔQS Agrees to wage cuts New technology More / Less / Right / Left / No shift ΔS ΔQS increases efficiency Price of US Cars More / Less / Right / Left / No shift ΔS ΔQS increases Nationwide Auto More / Less / Right / Left / No shift ΔS ΔQS workers strike begins Cost of Steel More / Less / Right / Left / No shift ΔS ΔQS decreases Major auto producer More / Less / Right / Left / No shift ΔS ΔQS goes out of business Buyers reject New car More / Less / Right / Left / No shift ΔS ΔQS models Government gives car More / Less / Right / Left / No shift ΔS ΔQS producers a subsidy Indicate in the chart the reasons for change in Demand for US Autos (given the headlines above) Headline Number… Reason 1 2 3 4 5 6 7 8 A change in of inputs to production process A change in technology
Shifts in Supply: Impact of events on supply of US-made Headline Should US auto firms produce more or less? Is there a change in supply (ΔS) or a change in quantity supplied (ΔQS)? Does the supply curve of cars shift to the right or left or no shift? Auto workers’ Union Agrees to wage cuts More / Less ΔS / ΔQS Right / Left / No shift New technology increases efficiency More / Less ΔS / ΔQS Right / Left / No shift Price of US Cars increases More / Less ΔS / ΔQS Right / Left / No shift Nationwide Auto workers strike begins More / Less ΔS / ΔQS Right / Left / No shift Cost of Steel decreases More / Less ΔS / ΔQS Right / Left / No shift Major auto producer goes out of business More / Less ΔS / ΔQS Right / Left / No shift Buyers reject New car models More / Less ΔS / ΔQS Right / Left / No shift Government gives car producers a subsidy More / Less ΔS / ΔQS Right / Left / No shift Indicate in the chart the reasons for change in Demand for US Autos (given the headlines above) Headline Number… Reason 1 2 3 4 5 6 7 8 A change in of inputs to production process A change in technology
unit_1_learning_target_packet.docx