Refer to the fiGure

question 156

Multiple Choice

Refer to the figure. Assuming this market is representative of the economy as a whole, a positive demand shock will

• A) increase both the price level and the quantity of output produced.
• B) increase output but leave prices unchanged.
• C) lower the price level but leave output unchanged.
• D) raise the price level but leave output unchanged.

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Definitions:

Personal Computers

Electronic devices designed for individual use, capable of executing a set of instructions or software.

Product Mix

The total range of products that a company offers to sell, including variations of products based on size, color, or other attributes.

Breadth

The range or variety of products or services offered by a company or available within a market.

Depth

The number of categories within a product line.