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Author Question: If one really believes that price spikes known as price gouging are due to a surge in greed among ... (Read 70 times)

urbanoutfitters

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on: Jun 29, 2018
If one really believes that price spikes known as price gouging are due to a surge in greed among suppliers, then
 
  A) they haven't quite mastered the economic way of thinking.
  B) their comfort in knowing that thousands if not millions of others agree with them is not sufficient economic evidence to conclude that their claim is correct.
  C) their claim implies that significant price decreases are due to a sudden reduction in greed among suppliers.
  D) all of the above are true.

Question 2

An increase in the price of oil ________ aggregate supply, shifting the aggregate supply curve ________ and potentially bringing the ________ phase of the business cycle.
 
  A) decreases; rightward; expansion
  B) increases; rightward; recession
  C) increases; rightward; expansion
  D) decreases; leftward; recession
  E) decreases; rightward; recession


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Ddddd

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

D

Answer to Question 2

D


urbanoutfitters

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

patma1981

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Reply 3 on: Yesterday
Excellent

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