Figure 5-20 -Refer to Figure 5-20. Which Supply Curve Is Most Likely

question 1

Multiple Choice

Figure 5-20
-Refer to Figure 5-20. Which supply curve is most likely relevant over a very long period of time?

• A)S1
• B)S2
• C)S3
• D)All of the above are equally likely to be relevant over a very long period of time.

---

Definitions:

Currency Cross Rates

These are exchange rates between two currencies, neither of which is the domestic currency of the country where the quote is given.

CPI

The Consumer Price Index is a gauge that determines the composite weighted pricing of various consumer products and services, which encompass medical care, food, and transportation.

Base Year

A specific year against which economic or financial data is compared to measure economic performance or inflation.

Ratio

A quantitative relationship between two numbers, showing how many times one value contains or is contained in the other.