Assume a country’s economy is currently in long-run equilibrium. What is the short-run effect if oil prices go up? A. Short-run aggregate supply shifts right B. None of the options is correct C. Aggregate demand shifts right D. Short-run aggregate supply shifts left.
Assume a country’s economy is currently in long-run equilibrium. What is the short-run effect if oil prices go up?
A. Short-run
B. None of the options is correct
C. Aggregate demand shifts right
D. Short-run aggregate supply shifts left.
Which of the following is true?
A. Social benefit = Private benefit + tax
B. Tax = Positive externality
C.
D. Social cost = Private cost + negative externality
3. The market for oranges is in equilibrium. Suppose we observe that farmers who grow oranges are using more pesticides to increase production. At the same time, we hear that the
A. Price rises, but quantity is ambiguous
B. Both price and quantity are ambiguous
C. Price is ambiguous, but quantity rises
D. Price falls, but quantity is ambiguous
Question 15
If the demand for apples increases simultaneously with an increase in the supply of apples, we can say that
A. .
B. equilibrium quantity rises, but the price change is indeterminate or ambiguous
C. quantity change is ambiguous, but the equilibrium price rises
D. None of the options are correct
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