Refer to the below graph. What will shift D1 to D2?
Refer to the above graph. What will shift D1 to D2?
A. A decrease in the price of labor
B. A decrease in demand for good X
C. An increase in the price of a complementary input
D. An increase in the price of good X
D. An increase in the price of good X
You might also like to view...
What of the following would most likely cause the movement from S 1 to S 2 ?
a. A country reduces its armed forces, releasing many people into the work force.
b. Rapidly spiraling medical costs force many seniors to return to work after they retire.
c. A small town collectively wins a mega-million lottery, and its citizens divide the prize
money.
d. People move into a state from a neighboring state that has high taxes and corrupt
officials.
Governments and legislatures can erect barriers to entry. Which of the following would NOT be one of them?
A) licenses B) tariffs C) patents D) laws that ensure property rights
A market system is not considered an effective way of controlling self-interest.
Answer the following statement true (T) or false (F)
One reason that the Phillips curve “broke down” is that it
A. is unable to explain short-run movements in inflation and unemployment, but does a better job of explaining long-run movements. B. assumes a quick-acting self-correcting mechanism, and the economy has a very slow self-correcting mechanism. C. is a statistical relationship, and some of the points are not sustainable in the long run. D. cannot explain demand-side inflation, and it collapsed when demand-side inflation was predominant in the 1970s.