Suppose you are a skilled worker in America who makes barrels. This year you notice that more people than ever are buying barrels but the market price of barrels has gone down. Which of the following “shocks” can best explain this? Group of answer choices An increase in the demand for barrels. A decrease in the demand for barrels. An increase in the supply for barrels. A decrease in the supply for barrels
Suppose you are a skilled worker in America who makes barrels. This year you notice that more people than ever are buying barrels but the market price of barrels has gone down. Which of the following “shocks” can best explain this? Group of answer choices An increase in the demand for barrels. A decrease in the demand for barrels. An increase in the supply for barrels. A decrease in the supply for barrels
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose you are a skilled worker in America who makes barrels. This year you notice that more people than ever are buying barrels but the market price of barrels has gone down. Which of the following “shocks” can best explain this?
Group of answer choices
An increase in the
A decrease in the demand for barrels.
An increase in the supply for barrels.
A decrease in the supply for barrels.
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