Figure 8-2
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In Figure 8-2, which of the following moves can be explained by a decrease in the price level?
A. A to B
B. A to C
C. A to D
D. A to E
Answer: C
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A. increases in physical capital B. technological advances C. increases in human capital D. discoveries of natural resources
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A) risen; become more equal B) fallen; become more equal C) risen; become less equal D) not changed; not changed
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A) an increase in consumer surplus. B) one single price. C) no deadweight loss. D) no producer surplus.
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