Refer to the figures. As the economy moves from the very short run to the longer run, we would expect:
A. the representation of the economy to move from Figure A to Figure B.
B. the representation of the economy to move from Figure B to Figure A.
C. demand shocks to be eliminated.
D. the economy to gravitate to P 1
B. the representation of the economy to move from Figure B to Figure A.
Economics
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When housing prices ________ as they did beginning in 2006 following the housing market bubble, most banks and other lenders tightened the requirement for borrowers, making it ________ for potential home buyers to obtain mortgages
A) fell; easier B) rose; easier C) rose; harder D) fell; harder
Economics
A legal limit on the amount of sugar imported into the United States is
A) a tariff. B) a subsidy. C) a quota. D) a voluntary import restriction.
Economics