Answer:
The correct answer is letter "A": magnified, reduced.
Explanation:
Scarcity does not only represent individuals having to sacrifice some of their needs to fulfill others because resources are limited. Scarcity can also represent the reason for dispute between social levels. When resources are scarce and one social stratum has more access to it, differences will increase. The opposite happens when the resources are allocated properly between them: differences are likely to be reduced.
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Answer:
As a result of the political unrest in Libya, the supply of oil would fall, As a result the supply curve would shift to the left. This would lead to fall in equilibrium quantity and a rise in price.
The increased demand for oil would shift the demand curve to the right. The equilibrium price and quantity would increase
Taking these two effects together, equilibrium price would rise and there would be an indeterminate effect on equilibrium quantity
Please check the attached image for a graph showing these shifts
b. As a result of the change in supply, supply would increase. This would increase equilibrium quantity and equilibrium price would fall. in addition with the increase in demand for oil, equilibrium quantity would rise and there would be an indeterminate effect on equilibrium quantity
Explanation:
Answer:
The answer will be A
Explanation:
As the social security contributions and benefits remain the same in proportion, personal and national income will remain the same.
As disposable income is defined as personal income-personal taxes, and the personal income taxes fall by 500 million (included in the contibutions), this would mean that the disposable income increases.
Answer:
The price of baseball bats (a complementary good) increased
If the price of a complementary good increases, this would result in a decrease in demand for baseballs.
Explanation:
