Use the following graph to answer the next question.
Which change would be consistent with an attempt by the Federal Reserve to reduce inflation?
A. shifting Sf3 to Sf1
B. shifting Sf4 to Sf3
C. shifting Sf1 to Sf2
D. shifting Sf4 to Sf2
Answer: C
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In 2006, the European Union (EU) threatened to ban imports of long-grain rice because traces of genetically modified rice were found mixed in to commercial supplies. Instead of a ban, suppose the EU placed a tariff on the import of long-grain rice
Which of the following would be an outcome of this tariff? A) The EU would gain tariff revenue. B) Deadweight loss would decrease. C) European rice producers would decrease production. D) The price of long-grain rice in the EU would not change.
A monopolistically competitive firm, like a perfectly competitive firm, is a price taker
a. True b. False Indicate whether the statement is true or false
With the passage of time as the availability of an exhaustible resource declines, the cost of extraction of the resource increases
a. True b. False Indicate whether the statement is true or false
If the demand for online banking decreases, we would expect to see the
A. supply of workers that produce online-banking services to decrease. B. demand for workers that produce online-banking services to increase. C. supply of workers that produce online-banking services to increase. D. demand for workers that produce online-banking services to decrease.