A decrease in supply is shown graphically by a shift of the supply curve to the ________.
Fill in the blank(s) with the appropriate word(s).
left
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Suppose that in 2011 nominal GDP increased and real GDP decreased relative to the year 2010 . It can be concluded that:
a. the economy experienced inflation and the total production of goods and services increased. b. the economy experienced deflation and the total production of goods and services increased. c. the economy experienced inflation and the total production of goods and services decreased. d. the economy experienced deflation and the total production of goods and services decreased.
After the ban on the production and sale of alcohol ended in 1933,
a. the quality of alcohol sold declined. b. the murder rate declined. c. the profit rate for bootleg sellers of alcohol increased. d. all of the above occurred.