Suppose a change takes place and the new equilibrium is at point A in the above figure. This change could have been caused by
A) an increase in the per-unit tax on CDs.
B) a decrease in the income of consumers.
C) a reduction in the wages paid to workers in the CD industry.
D) a reduction in the price of CD players.
A
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In 1939 the U.S. economy was operating at point ________.
A. A
B. B
C. C
D. D
Moving along the aggregate supply curve, when the price level rises,
A) the quantity supplied decreases. B) the quantity supplied increases. C) the aggregate demand curve shifts rightward. D) the aggregate demand curve shifts leftward. E) the quantity supplied does not change because the aggregate supply curve is a vertical line.
When a nation exports a good or service, employment in that industry
A) decreases. B) stays the same. C) increases. D) might change, but more information about what else the country exports is needed to determine if employment increases, decreases, or does not change. E) might change, but more information about what the country imports is needed to determine if employment increases, decreases, or does not change.
Around 1910, the ______________ changed everything, including what was inside the home to where the homes were located
a. Airplane b. Radio c. Automobile d. Television