Preparing For The last battle

Where decisions about what to produce, how to produce it and who should benefit are taken by government

This table shows the demand and supply per week for boxes of popcorn sold at a cinema.  Demand is shown before and after a fall in the price of cinema tickets. What is the change in the equilibrium price?

This figure is shows the supply curve for a good. Which one of the following is most likely to cause a movement from point X to point Y on the supply curve?

This figure is shows the demand curve (Demand) and the supply curve (Supply) for bus travel within a city.  The initial market equilibrium price is P. To reduce pollution, the city council pays bus companies to provide bus travel free of charge.  As a result of this policy, consumer surplus will increase by the area

The table shows data relating to the price index of an economy. What is the weighted price index in Year 2?  

The figure shows two aggregate demand (AD1 and AD2) curves and two long-run aggregate supply (LRAS1 and LRAS2) curves for an economy. All other things being equal, which one of the following is the most likely explanation  for the movement of the economy from E1 to E2?

The diagrams below show the initial aggregate demand (AD1), short-run aggregate supply (SRAS1) and long-run aggregate supply (LRAS1) curves for an economy.  The economy experiences a significant negative supply-side shock due to the collapse of airlines and shipping companies.  All other things being equal, which one of the following diagrams shows the most likely impact of this shock on the economy?

The figure shows the cost and revenue curves for a firm. At which level of output will the firm make normal profits?

In 2020, the Central Bank of Nigeria decided to change the fixed exchange rate of its currency, the naira, to the US Dollar from 307 naira : 1 dollar to 360 naira : 1 dollar.  This is known as