Refer to Figure 3-1. An increase in the price of the product would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
B
Economics
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Market specialization and the rise of the division of labor
A) create important conditions for economic growth. B) help explain why some nations are wealthier than others. C) do both of the above. D) do neither of the above.
Economics
The process of an economy adjusting from a recession back to potential GDP in the long run without any government intervention is known as
A) fiscal policy. B) monetary policy. C) an automatic mechanism. D) "releasing sticky prices."
Economics