USU-Intro To MacroEcon - Assignment 1

2 a s hift outward of the s upply c urve for ford

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Unformatted text preview: A s hift outward of the s upply c urve for Ford automobiles . 3. A s hift inward of the s upply c urve for Ford automobiles . 4. A movement down along an ex is ting s upply c urve for Ford automobiles . 5. No c hange in s upply . Que stion 19 (1 point) Equilibrium in a mark et-bas ed ec onomy 1. does n't oc c ur bec aus e no inc entive ex is ts to c reate it in a mark et- bas ed ec onomy . ec onomy . 2. oc c urs when a s urplus of a good during one time period is ex ac tly offs et by a s hortage of that good the nex t period. 3. oc c urs ins tantaneous ly and rarely c hanges over time. 4. is es tablis hed at the point where the quantity that s uppliers are willing and able to offer for s ale is the s ame as the quantity that buy ers are willing and able to purc has e. 5. is us ually forc ed through government intervention and tax ation. Que stion 20 (1 point) In the figure above, the initial demand c urve is .and the s upply c urve is . The mos t lik ely res ult of pes s imis tic produc er ex pec tations is 1. a move from equilibrium A to equilibrium D. 2. a move from equilibrium A to equilibrium B. 3. a move from equilibrium A to equilibrium E. 4. a move from equilibrium B to equilibrium A. 5. a move from equilibrium A to equilibrium F. Que stion 1 (5.00 points ) Ex plain the law of s upply , law of demand, and equilibrium and how they all interrelate. Que stion 2 (5.00 points ) W hat does the s ay ing �There is no s uc h thing as a free lunc h� mean?...
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This homework help was uploaded on 03/18/2014 for the course ECON 2010 taught by Professor Staff during the Spring '08 term at Utah Valley University.

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