FIGURE 13- 4 the Three Diagrams Below Each Show a Supply

question 29

Multiple Choice

FIGURE 13- 4 The three diagrams below each show a supply curve for oil tankers over a relatively short period of time.

-Refer to Figure 13- 4.Consider the supply of oil tankers to an individual Canadian shipping firm,the North American shipping industry,and the world shipping industry.Which diagram best shows the supply of oil tankers that is relevant to the world shipping industry?

• A)diagram 1
• B)diagram 2
• C)diagram 3
• D)diagrams 2 or 3
• E)diagrams 1 or 2

---

Definitions:

Demand Deposits

Money in bank accounts that can be withdrawn "on demand" without any advance notice.

Junk Bonds

High-yield bonds that carry a higher risk of default compared to investment-grade bonds, typically issued by companies with lower credit ratings.

Real Estate Loans

Loans specifically provided for purchasing property, including both residential and commercial properties.

Medium Of Exchange

Items sellers generally accept and buyers generally use to pay for a good or service; the primary job of money.