The numbers in the table below characterize the market for raccoon skins in Minnesota during the 2010-2011 trapping season. The demand schedule that prevailed in November and December of 2010 is denoted by "Original Quantity Demanded," and the demand schedule that prevailed from late January onward is denoted by "Quantity Demanded-Late January."
-Refer to the table above.Given the original demand,at a price of $22 per raccoon skin,there is a ________.
Definitions:
Government Spending
The total amount of public expenditures by the government, including spending on healthcare, education, infrastructure, and defense.
Pessimism
A tendency to see the worst aspect of things or believe that the worst will happen; a lack of hope or confidence in the future.
Feedback
Information returned to a person or system about the effects or outcomes of an action or decision, used for adjustment and improvement.
Aggregate Demand Curve
A curve representing the total demand for all goods and services in an economy at various price levels, holding everything else constant.
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