Suppose That in Montreal in December,2015,10 000 Ski Helmets Were

question 63

Multiple Choice

Suppose that in Montreal in December,2015,10 000 ski helmets were sold at a price of $60 each.And in Montreal in December,2016,20 000 ski helmets were sold at a price of $80 each.One possible explanation for the change is that from 2015 to 2016 the ________ curve for ski helmets shifted to the ________.

• A)supply; left
• B)supply; right
• C)demand; left
• D)demand; right
• E)supply or demand; right

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Definitions:

Active Approach

A strategy, especially in investing or management, where decisions are made based on hands-on involvement and regular assessment of conditions.

SRAS Curve

Short-Run Aggregate Supply Curve represents the relationship between the total supply of goods and services produced by a country and the price level in the short term, holding wages and input prices constant.

Active Approach

A strategy involving regular and direct intervention or actions to achieve a particular goal or outcome.

Recessionary Gap

A situation where the real GDP is lower than the potential GDP, indicating underutilized resources in an economy.