Which of the Following Is NOT One of the Steps

question 118

Multiple Choice

Which of the following is NOT one of the steps in analyzing how an event affects a market?

• A) Determine the number of market participants.
• B) Decide whether the curve shifts to the right or to the left.
• C) Determine whether the event shifts the supply, the demand, or both curves.
• D) Use a supply-demand diagram to examine how the shift(s) affect the equilibrium.

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Definitions:

Average Price Level

An index that summarizes prices across a variety of goods and services within an economy at a given time, providing a snapshot of overall price trends.

Imports

Goods or services brought into one country from another for the purpose of trade.

Exports

Goods or services produced within one country and sold to buyers in another country.

United States

A federal republic in North America consisting of 50 states, a major global economic and political power.