Refer to Figure 1A.1. Assume that the graph in this figure represents the demand and supply curves for walnuts. An advance in production technology which makes harvesting walnuts less time consuming would be represented by a shift from
A) Demand 1 to Demand 2.
B) Demand 2 to Demand 1.
C) Supply 1 to Supply 2.
D) Supply 2 to Supply 1.
C
Economics
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Real GDP is always measured in
A) cheaper dollars. B) quality of goods produced. C) base-year dollars. D) nominal dollars. E) current dollars.
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The figure above shows the demand for fruit snacks. Which movement reflects an increase in demand?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
Economics