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Author Question: At the beginning of 2015, a country is at full-employment. During 2015, oil-producing countries ... (Read 74 times)

RRMR

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on: Jun 29, 2018
At the beginning of 2015, a country is at full-employment. During 2015, oil-producing countries decrease oil production leading to much higher oil prices. The higher oil prices can
 
  A) increase aggregate demand and lead to an expansion.
  B) increase aggregate supply and lead to an expansion.
  C) decrease aggregate demand and lead to a stagflation.
  D) decrease aggregate supply and lead to a stagflation.
  E) decrease aggregate demand and lead to a higher price level.

Question 2

In the figure above, the length of the double sided arrow is the
 
  A) consumer surplus.
  B) deadweight loss.
  C) producer surplus.
  D) economic loss per unit.
  E) economic profit.


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nickk12214

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


RRMR

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Reply #2 on: Jun 29, 2018
Thank you


nickk12214

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Reply #3 on: Jun 29, 2018
No problemo


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