Author Question: Refer to Figure 13-1. Ceteris paribus, a decrease in personal income taxes would be represented by a ... (Read 47 times)

joesmith1212 · **on:** Jun 29, 2018

Refer to Figure 13-1. Ceteris paribus, a decrease in personal income taxes would be represented by a movement from

A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.

Question 2

Refer to Figure 3-4. If the current market price is 25, the market will achieve equilibrium by

A) a price decrease, decreasing the supply and increasing the demand.
B) a price increase, increasing the quantity supplied and decreasing the quantity demanded.
C) a price decrease, decreasing the quantity supplied and increasing the quantity demanded.
D) a price increase, increasing the supply and decreasing the demand.