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Author Question: When the CPI rises ________, the inflation rate is ________. A) rapidly; low B) rapidly; high ... (Read 58 times)

swpotter12

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on: Jun 30, 2018
When the CPI rises ________, the inflation rate is ________.
 
  A) rapidly; low
  B) rapidly; high
  C) steadily; zero
  D) slowly; high
  E) rapidly; either high, low, or zero depending on whether production of output is increasing, decreasing, or not changing.

Question 2

Explain the difference between a change in quantity supplied and a change in supply.
 
  What will be an ideal response?


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shaikhs

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

A change in quantity supplied of a product is caused by a change in the price of the product. It is represented by a movement along the product's supply curve. A change in supply of a product is caused by a change in a variable other than the price of the product. It is represented by a shift of the supply curve.


swpotter12

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

scikid

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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