The bubble concept refers to
a. the buying and selling of pollution rights
b. the way pollution creates a hole in the ozone layer
c. pollution due to nuclear waste
d. strict pollution standards for individual firms
e. obligatory controls
A
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In the figure above, the economy is at an equilibrium with real GDP of $16 trillion and a price level of 110. As the economy moves toward its ultimate equilibrium, the ________ curve shifts ________ because ________
A) aggregate supply; leftward; the money wage rate rises B) aggregate supply; rightward; the money wage rate falls C) aggregate demand; rightward; the money wage rate falls D) aggregate demand; leftward; the money wage rate rises E) potential GDP; leftward; the money wage rate falls
Supply shows
a. the quantity offered for sale at every possible price. b. the quantity people will buy at every possible price. c. the changes in quantity. d. how price changes when people buy more.