A shift from AD2 shifts to AD1 would be consistent with what economic event in U.S. history?
Refer to the figure above.
A. World War II in the 1940s
B. Cost-push inflation in the mid-1970s
C. Demand-pull inflation in the late 1960s
D. Great Recession of 2007-2009
D. Great Recession of 2007-2009
Economics
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If a government imposes a quota on imports of a popular doll, the price of the doll in the country will ________ and the quantity purchased in the country will ________
A) rise; increase B) rise; decrease C) fall; increase D) fall; decrease
Economics
Which of the following is NOT a role of Adam Smith?
A. wrote Wealth of Nations book in 1776 B. believes that prices, self interest, and competition have a role in the economy C. believes in the efficiency of market economies D. argued for laissez faire E. focused on an accumulation of gold
Economics