Q: 5. The aggregate supply curve is shifted rightward by an increase in tax rates. Answer: Reason:
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- Describe the mechanism by which demand creates its own supply.8. Suppose a city places a "green - belt" area around itself that effectively kills any future development. What will happen to current housing rental rates, future housing rental rates, and the current price of housing? Explain using a supply and demand graph.4) An increase in demand will lead to an increase in “supply” and an increase in “quantity supplied.” (Be sure to address both “supply” and “quantity supplied.”) Is this true, false, or uncertain? Explain.
- 15. Explain whether each of the following events represents (i) a shift in the supply curve or (ii) a movement along the supply curve a) More homeowners put their houses up for sale during a real estate boom that causes house prices to rise b) Immediately after the school year begins, fast food chains must raise wages to attract workers.a. What is the difference between a "change in supply" and a "change in quantity supplied?" Graph your answer. b. For each of the following changes, determine whether there will be a change in quantity supplied or a change in supply. i. a change in input costs ii a change in producer expectations iii. a change in price iv. a change in technology v. a change in the number of sellerssheets of paper. 2. On a separate sheet of paper, write a 5-7 sentence paragraph describing the difference between a "change" in "quantity supplied" and a "change" in "supply." Reference the key determinants that would cause or result in each "change" and the implications of a "change" in each. Note: This paragraph is independent of your specific article, and can be addressed by researching the definitions in your PowerPoint slides and/or text.
- 2. Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. a. People decide to have more children. b. A stock market crash lowers people’s wealth.8. Define Supply/ Demand. Then explain what happens to supply/ demand when price goes up/ down. Supply: Price 1= Supply: Demand: Demand: Price 1= Supply: Demand:a. What is the difference between a "change in supply" and a "change in quantity supplied ?Graph your answer . b. For each of the following changes, determine whether there will be a change in quantity supplied or a change in supply. i. a change in input costs ii a change in producer expectations iii. a change in price
- 10. A market supply and demand analysis The following graph shows the monthly demand and supply curves in the market for teapots. Use the graph input tool to help you answer the following questions. Enter an amount into the Price field to see the quantity demanded and quant supplied at that price. You will not be graded on any changes you make to this graph. PRICE (Dollars per teapot) 80 72 64 56 48 32 16 8 0 Demand Supply 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Teapots) The equilibrium price in this market is $ Graph Input Tool Market for Teapots Price (Dollars per teapot) Price (Dollars per teapot) Shortage or Surplus 48 32 Quantity Demanded (Teapots) per teapot, and the equilibrium quantity is 16 Shortage or Surplus Amount (Teapots) 310 Quantity Supplied (Teapots) teapots bought and sold per month. Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus and whether this places…Which of the following is NOT a determinant of demand? a. Consumers' incomes b. Expected changes in prices in the future c. Production technology d. Consumers' tastes and preferencesQuestion 4 and pr If a website facilitates the sale of goods by individuals and businesses over the internet, but requires actual pho to be posted instead of a manufacturer's stock picture of the product, both the demand and supply of products shift due to the improved information. If supply shifts by more than demand, quantity will decrease, increase O increase, decrease increase, be indeterminate O decrease, be indeterminate