The Following Figure Shows the Demand Curve, D, and the Supply

question 191

Multiple Choice

The following figure shows the demand curve, D, and the supply curve, S, for calculators in Barylia in four different scenarios. Barylia is open to free trade.

-Refer to the figure above.Let the world price of calculators be $5.In what scenario(s) does Barylia become a net importer of calculators?

• A) (2)
• B) (1) and (2)
• C) (2) and (3)
• D) (3) and (4)

Identify factors that explain the slope of the aggregate demand curve.

Recognize the implications of consumer sentiment on aggregate demand and output.

Distinguish between monetary and fiscal policy.

Explain how fiscal policy affects the economy in both the short and long run.

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Definitions:

Clean Air Act

A comprehensive federal law in the United States that regulates air emissions from stationary and mobile sources to protect public health and the environment.

Stationary Sources

Fixed sites or facilities that emit pollutants into the air, such as power plants, manufacturing facilities, and refineries.

Emission Reduction

The process of lessening the quantity of pollutants released into the atmosphere, often to combat environmental issues like climate change.

NPDES

National Pollutant Discharge Elimination System, a regulatory program in the United States that issues permits for the discharge of pollutants into waters of the United States.