Refer to the Graphs Above

question 79

Multiple Choice

Refer to the graphs above. Which of the following best represents a positive demand shock when prices are flexible?

• A) The shift from D₂ to D₃ in graph B
• B) The shift from D₂ to D₃ in graph A
• C) The shift from D₂ to D₁ in graph B
• D) The shift from D₂ to D₁ in graph A

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Definitions:

pH

a numeric scale used to specify the acidity or basicity of an aqueous solution, with values below 7 being acidic, above 7 being basic, and 7 being neutral.

pH

A measurement system to determine how acidic or basic a water-based solution is, with a scale that goes from 0 (highly acidic) to 14 (highly basic).

Acetic Acid

An organic compound with the formula CH3COOH, known as the main component of vinegar apart from water, and widely used as a solubility agent and a reagent in the production of chemical compounds.

Anion

An anion is a negatively charged ion, meaning it has more electrons than protons, which is typically formed when an atom gains one or more electrons.