Figure 4-27
Panel (a)
Panel (b) 
Panel (c)
Panel (d) 
-Refer to Figure 4-27. Which of the four panels illustrates a decrease in quantity supplied?
Definitions:
Monetarists
Economists who believe that the money supply is the main determinant of economic growth and control over inflation.
Quantity Theory
A theory in economics that describes the relationship between the quantity of money in an economy and the level of prices of goods and services.
Quantity Theory
The theory suggesting that the amount of money in circulation in an economy directly affects price levels and inflation.
Doubled
A term indicating that a quantity, value, or size has increased by 100 percent, resulting in its multiplication by two.
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