Refer to the given graph. A movement from b to a along C 1 might be caused by a(n):
A. recession.
B. wealth effect of an increase in stock market prices.
C. decrease in income tax rates.
D. increase in saving.
A. recession.
Economics
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Other factors held constant, if there are few close substitutes for a good, demand is more elastic for it
a. True b. False Indicate whether the statement is true or false
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After the 1960s, the short-run Phillips curve based on U.S. economic data: a. began shifting inward
b. began shifting outward. c. did not shift at all. d. became virtually horizontal. e. became virtually vertical.
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