Refer to the information provided in Figure 29.2 below to answer the question(s) that follow.
Figure 29.2Refer to Figure 29.2. If economic policy causes aggregate demand curve shifts from AD2 to AD1, then
A. output decreases to less than Y1.
B. the price level decreases lower than P0 and output decreases to Y0.
C. output decreases to Y0 and the price level decreases to P0.
D. none of the above.
Answer: C
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In the figure above, the redistribution from the consumers to the producer if the firm is a single-price, unregulated monopoly rather than a perfectly competitive industry is
A) zero. B) $8.00 per day. C) $16.00 per day. D) $32.00 per day.
Which of the following is true?
a. Healthcare in Canada and most of the European countries is a socialized industry. b. Socialization of the healthcare industry eliminates the problem of scarcity in the healthcare industry. c. The high-income countries of Europe are able to provide as much healthcare, free of charge, as their citizens want. d. All of the above are true.