In the diagrams below, the subscript "1" refers to the initial position of the curve, while the subscript "2" refers to the final position after the curve shifts.
In which of the diagrams above would we see a shortage at the initial price after the indicated curve has shifted?
A. (1) and (4)
B. (2) and (3)
C. (1) and (3)
D. (2) and (4)
Answer: A
You might also like to view...
When we say the cost of living has gone up, we mean that, looking broadly over a range of goods and services:
A. a dollar buys less today than it used to buy. B. a dollar buys more today than it used to buy. C. a dollar buys the same today as it used to buy. D. our income has increased to match the cost of those goods.
Governments have learned that a(n)
a. increased budget deficit tends to reduce interest rates and increase investment, thus increasing the growth of the capital stock b. reduced budget deficit tends to reduce interest rates and increase investment, thus increasing the growth of the capital stock c. reduced budget deficit tends to increase interest rates and increase investment, thus increasing the growth of the capital stock d. reduced budget deficit tends to increase interest rates and increase investment, thus reducing the growth of the capital stock e. increased budget deficit tends to increase interest rates and increase investment, thus reducing the growth of the capital stock
A reduction in the required reserve ratio has the instant effect of:
a. Increasing bank shareholders' equity. b. Increasing total bank reserves c. Increasing excess reserves. d. None of the above is correct. e. Increasing the monetary base.
Refer to Figure 4.3. Which diagram most likely represents the indifference map for Sony PlayStations and Nintendo GameCubes?
A. A
B. B
C. C
D. D