Refer to the information provided in Figure 3.16 below to answer the question(s) that follow.
Figure 3.16Refer to Figure 3.16. When the economy moves from Point A to Point B, there has been
A. an increase in quantity demanded and an increase in quantity supplied.
B. an increase in quantity demanded and an increase in supply.
C. an increase in demand and an increase in quantity supplied.
D. an increase in demand and an increase in supply.
Answer: C
You might also like to view...
According to Okun's law, if output grew 7% and full-employment output rose 5%, what would be the change in the unemployment rate?
A) -4 percentage points B) -1 percentage point C) 1 percentage point D) 4 percentage points
If the nation's investment opportunities are highly attractive relative to those available abroad, the nation will tend to
a. experience an outflow of capital and a trade deficit. b. experience an outflow of capital and a trade surplus. c. experience an inflow of capital and a trade deficit. d. experience an inflow of capital and a trade surplus.
Which of the following would cause the money demand curve to shift to the left?
A. An increase in GDP B. A technological advance, like online shopping C. An increase in interest rates D. Inflation
The most accurate measurement of unemployment
a) is an extrapolation based on a random survey of households b) counts the number of workers collecting unemployment insurance benefits c) uses payroll data by subtracting the number of workers employed at firms from the number of citizens of working age d) uses the number of layoffs reported to the government by employers e) none of the above