Refer to the table. Suppose that demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5). If the price were artificially set at $6:
A. the market would clear.
B. a surplus of 40 units would occur.
C. a shortage of 40 units would occur.
D. demand would change from columns (3) and (2) to columns (3) and (1).
C. a shortage of 40 units would occur.
Economics
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In Keynesian analysis, if investment remains constant when income changes, the investment is called
A) discretionary. B) autonomous. C) planned. D) unplanned.
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Aggregate demand shifts left if
a. government purchases increase and shifts left if stock prices rise. b. government purchases increase and shifts left if stock prices fall. c. government purchases decrease and shifts left if stock prices rise. d. government purchases decrease and shifts left is stock prices fall.
Economics