Refer to Figure 29-1. Europe suffers a recession. Assuming all else remains constant, this would be represented as a movement from
A) B to C. B) D to A. C) C to D. D) A to B. E) A to D.
C
You might also like to view...
Referring to a production possibilities curve and the goods being compared, depict the economic event. Millions of immigrants came to the United States in the second half of the 19th century to work on the transcontinental railroad (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on or near the curve B. A movement from a point on or near the curve to a point inside the curve C. A shift in the entire curve to the right (outward) D. A shift in the entire curve to the left (inward)
All of the following are functions of the Federal Reserve System EXCEPT
A) to provide loans to developing countries. B) to act as the government's fiscal agent. C) to supply the economy with fiduciary currency. D) to hold depository institutions' reserves.
Refer to Figure 22.3 for a perfectly competitive firm. If the market price is $10,
A. The firm should produce 31 units. B. The firm will shut down in the short run. C. The firm will earn normal profits. D. An economic loss will occur.
Other things the same, if the price level rises by 2% and people were expecting it to rise by 5%, then some firms have
a. higher than desired prices, which increases their sales.
b. higher than desired prices, which depresses their sales.
c. lower than desired prices, which increases their sales.
d. lower than desired prices, which depresses their sales.