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Author Question: Figure 4.5 illustrates a set of supply and demand curves for hamburgers. An increase in supply and ... (Read 70 times)

biggirl4568

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on: Jun 30, 2018
Figure 4.5 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in demand are represented by a movement from
 
  A) point c to point a. B) point d to point a. C) point d to point b. D) point b to point c.

Question 2

If potential output exceeds actual output, ________ shifts downward over time.
 
  A) the short-run AD curve B) the long-run AD curve
  C) the long-run AS curve D) the short-run AS curve
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
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steff9894

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

C

Answer to Question 2

D


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