Which of these changes was observed in the U.S. between 1929 and 1933?
a. The aggregate supply curve shifted inward with no change in the aggregate demand curve.
b. The aggregate demand curve shifted inward with no change in the aggregate supply curve.
c. The aggregate demand curve shifted outward with no change in the aggregate supply curve.
d. The aggregate supply curve shifted outward with no change in the aggregate demand curve.
e. The aggregate supply and demand curves both shifted outward.
b
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A green pasture has turned barren due to overgrazing. This happened because the pasture was ________
A) excludable and rival B) non-excludable and non-rival C) excludable but non-rival D) non-excludable but rival
Tom Searchinger, a senior attorney at the Environmental Defense Fund, observed that generous farm subsidies have encouraged farmers to produce more corn and more wheat. How does this affect the market for fertilizer?
A) The supply of fertilizer increases. B) The supply of fertilizer decreases. C) The demand for fertilizer increases. D) The demand for fertilizer decreases.