Under a gold standard, if the market price of gold is above the official price of gold (set by the monetary authority), people will be more likely to sell gold , which will cause the money supply to and the price level to .

Anew manufacturing technology makes it easier to make the product and causes a shift in the supply curve. what is the new equilibrium point after implementing the new technology? (hint: determine which direction a easier production shifts the supply curve and use that direction to pick the resulting equilibrium point.) $6 and 20,000 $4 and 30,000 $6 and 30,000 $4 and 20,000