In the graph above, draw a supply curve, S1, and then draw a less elastic supply curve, S2.


Economics

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Fluctuations in economic activity can result from

A) increases in the price of oil. B) wars. C) the loss of crops due to drought or insects. D) all of the above.

Economics

Budgets deficits can be a concern because they might

A) ultimately lead to higher inflation. B) lead to lower interest rates. C) lead to a slower rate of money growth. D) lead to higher bond prices.

Economics

If new entry occurs in a perfectly competitive industry, the demand curve for each existing firm will: a. shift up

b. shift down. c. shift right. d. shift left.

Economics

The demand for loanable funds is determined by the willingness of ________ to borrow money to engage in new investment projects

A) government B) households C) banks D) firms

Economics