Refer to the accompanying figure. A decrease in demand is represented by a shift from:
A. curve B to curve A.
B. curve C to curve D.
C. curve D to curve C.
D. curve A to curve B.
Answer: C
You might also like to view...
The automatic budget surpluses and budget deficits that occur in the federal budget over the business cycle
A) stabilize the economy. B) destabilize the economy. C) decrease potential GDP. D) increase potential GDP.
Upon graduating from high school you have a job offer which would provide you with $20,000 in income for the coming year. You have also been accepted to Isaac and Avery college. Tuition for the coming year at I&A college is $15,000 . room and board is $10,000 and you expect that books will cost you $2,000 . What is the opportunity cost of attending I&A college?
a. $37,000 b. $27,000 c. $20,000 d. $32,000 e. $47,000
In a coordination game, a Nash equilibrium occurs when
a. each player ignores the strategy of the other player b. each player chooses no strategy, but maintains the status quo c. each player chooses the same strategy d. one player can improve the outcome by changing strategy e. None of the answers is correct.
Prolonged periods of monetary contraction, as was the case during the Great Depression, will likely result in
a. an increase in real output and employment. b. an increase in loanable funds and upward pressure on the rate of inflation. c. a decrease in output and downward pressure on prices. d. a decrease in unemployment and upward pressure on prices.