Refer to the budget line shown in the diagram. Which of the following combinations of goods is unattainable for this consumer?

The distinction between microeconomics and macroeconomics is

In the diagrams below, the subscript “1” refers to the initial position of the curve, while the subscript “2” refers to the final position after the curve shifts. In which diagrams would we see a shortage at the initial price after the indicated curve has shifted?

Refer to the four graphs above. Select the graph that best shows the changes in demand and supply in the market specified in the following situation: the market for corn, if gasoline producers use more ethanol from corn and good weather during the growing season yields a bumper harvest.

The graph below shows the market for tickets to a “Final Four” sports event. Assume that there is only one kind of ticket to the event. Given this market, if the event organizers pre-set the price at $20, then this action would result in a

Which of the following is an example of a microeconomic question?

Refer to the four graphs above. In which graph would the indicated shifts cause equilibrium quantity to definitely rise, but the effect on price is indeterminate?

What is the likely effect on the market for wine of a simultaneous increase in both consumer incomes and producer taxes on wine?

Which of the following statements pertains most directly to macroeconomics?

A large increase in the supply of smart TVs occurs simultaneously with a smaller decrease in its demand. As a result, the equilibrium price will