In Response to the Demands of Environmentalists, Large Sections of Timberlands

question 45

Multiple Choice

In response to the demands of environmentalists, large sections of timberlands are put off limits to logging.What effect will this have on the aggregate supply curve?

• A)Shift the curve outward.
• B)Shift the curve inward.
• C)Move the economy up along the curve.
• D)Move the economy down along the curve.

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Definitions:

Domestic Quantity Demanded

The total amount of a good or service that consumers in a specific country are willing and able to purchase at a given price.

World Price

The international market price of a good, influenced by global supply and demand conditions.

Hypothetical Nations

Hypothetical nations are theoretical or imaginary countries used for the purpose of discussion, analysis, or illustration in economic or political scenarios.

Excise Tax

A tax on specific goods, such as alcohol and tobacco, often levied at the manufacturing level.