Use the figure below to answer the following question.
The figure above shows three supply curves for wheat. Which of the following would cause the quantity of wheat supplied to increase from point a to point b?
A. a tax on wheat production
B. an increase in the price of wheat
C. a decrease in the price of wheat
D. a subsidy for wheat production
Answer: B
Economics
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Refer to Figure 10.9. Other things equal, a negative demand shock is best represented as a change in equilibrium from
A) point A to point B. B) point A to point D. C) point C to point B. D) point C to point D.
Economics
Compared with the recovery from the recession of 1981-82, the recovery from the recession of 2008-09 was characterized by
a. more rapid growth of real GDP. b. a more rapid decline in the rate of unemployment. c. larger increases in both government spending and budget deficits as a share of GDP. d. higher interest rates and a more restrictive monetary policy.
Economics