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Microeconomic Graphs Create and correctly label a generic graph illustrating a production possibilities curve including points for underproduction, efficiency, and unattainable 1.1 Create and correctly label a generic graph illustrating a production possibilities curve including actual growth and potential growth (notes) Create and correctly label a generic graph illustrating a circular flow of income diagram 1.2 Create and correctly label a generic graph illustrating a circular flow of national income diagram 1.3 Create and correctly label a generic graph illustrating a generic demand curve 2.1 Create and correctly label a generic graph illustrating a decrease of demand 2.3 Create and correctly label a generic graph illustrating an increase of demand 2.4 Create and correctly label a generic graph illustrating a movement on a demand curve (notes) Create and correctly label a generic graph illustrating a Veblen good 2.8 Create and correctly label a generic graph illustrating a generic supply curve 2.11 Create and correctly label a generic graph illustrating a movement on curve (notes) Create and correctly label a generic graph illustrating a decrease of supply 2.12 Create and correctly label a generic graph illustrating an increase of supply (notes) Create and correctly label a generic graph illustrating market equilibrium 3.1 Create and correctly label side-by-side graphs illustrating excess supply and excess demand 3.2 Create and correctly label a generic graph illustrating a shifts of demand and impact on equilibrium 3.3 Create and correctly label a generic graph illustrating shifts of supply and impact on equilibrium (notes) Create and correctly label a generic graph illustrating a consumer surplus and producer surplus 3.5 and 3.6 together Create and correctly label a generic graph illustrating marginal social cost and marginal social benefit 3.7 Create and correctly label a generic graph illustrating a perfectly inelastic demand curve 4.1 Create and correctly label a generic graph illustrating a perfectly elastic demand curve 4.2 Create and correctly label a generic graph illustrating a price elasticity of demand = 1 4.5 Create and correctly label a generic graph illustrating a price elasticity of demand = less than 1 (notes) Create and correctly label a generic graph illustrating a price elasticity of demand = more than 1 (notes) Create and correctly label a generic graph illustrating a price elasticity of demand showing different elasticities on one curve 4.6 Create and correctly label a diagram illustrating XED values and the strength of the relationship between products 4.8 Create and correctly label a generic graph illustrating an Engel curve 4.9 Create and correctly label a generic graph illustrating a perfectly inelastic supply curve 4.10 Create and correctly label a generic graph illustrating a perfectly elastic supply curve 4.11 Create and correctly label side-by-side (3) generic graphs illustrating a price elasticity of supply = 1, price elasticity of supply = less than 1, and price elasticity of supply = more than 1 4.12 Create and correctly label a generic graph illustrating interaction between with price inelasticity of supply and demand 4.13 Create and correctly label a generic graph illustrating a graph with specific tax 5.1 Create and correctly label a generic graph illustrating a graph with ad valorean tax 5.1 Create and correctly label a generic graph illustrating a graph showing the incidence of specific tax (include deadweight loss on each) 5.2 as one graph Create and correctly label a generic graph illustrating imposition of a specific tax on a product where PED is greater than PES 5.3 Create and correctly label a generic graph illustrating imposition of a specific tax on a product where PED is less than PES 5.4 Create and correctly label a generic graph illustrating effect on a supply curve of a specific subsidy 5.5 Create and correctly label a generic graph illustrating graph showing incidence of subsidy 5.6 as one graph Create and correctly label a generic graph illustrating a price ceiling 5.7 Create and correctly label a generic graph illustrating government action to solve the problem of excess demand with a price ceiling 5.8 Create and correctly label a generic graph illustrating a price floor 5.9 Create and correctly label a generic graph illustrating government action to solve the problem of excess supply 5.10 Create and correctly label a generic graph illustrating a quota to maintain a minimum price 5.11 Create and correctly label a generic graph illustrating consumer/producer surplus = community surplus 12.1 Create and correctly label a generic graph illustrating negative externality of production 12.2 Create and correctly label a generic graph illustrating taxing a negative externality of production 12.3 Create and correctly label a generic graph illustrating positive externality of production 12.4 Create and correctly label a generic graph illustrating negative externality of consumption 12.5 Create and correctly label a generic graph illustrating a negative measures to reduce negative externalities of consumption 12.6 Create and correctly label a generic graph illustrating positive externality of consumption 12.7 Create and correctly label a generic graph illustrating measures to promote positive externalities of consumption 12.8 Create and correctly label a generic graph illustrating impact of government subsidy to promote positive externality of consumption 12.9 Macroeconomic Graphs Create and correctly label a generic diagram illustrating a two sector circular flow of income model 13.1 Create and correctly label a generic diagram illustrating a four-sector circular flow with leakages and injections 13.2 Create and correctly label a generic diagram illustrating a standard business cycle 13.3 Create and correctly label a generic diagram illustrating Long-term trend and output gaps 13.4 Create and correctly label a generic graph illustrating aggregate demand curve showing price level and real output changes 14.2 Create and correctly label a generic graph illustrating aggregate demand showing increase and decrease shifts 14.3 Create and correctly label a generic graph illustrating the relationship between investment and interest rates 14.4 Create and correctly label a generic graph illustrating SRAS curve with a price change 15.1 Create and correctly label a generic graph illustrating shifts of the SRAS 15.2 Create and correctly label a generic graph illustrating short-run macroeconomic equilibrium 15.3 Create and correctly label a generic graph illustrating new classical LRAS curve 15.4 Create and correctly label a generic graph illustrating the Keynesian LRAS curve 15.5 Create and correctly label a generic side-by-side graphs illustrating increase shifts from the Keynesian perspective and the new classical perspective 15.6 Create and correctly label a generic graph illustrating increase in productive potential equivalent to an increase in the LRAS 15.7 Create and correctly label a generic graph illustrating short-run equilibrium 16.1 Create and correctly label a generic graph illustrating the new classical perspective of long-run equilibrium 16.2 Create and correctly label a generic graph illustrating the new classical perspective of the impact of an increase in AD in the long run 16.3 Create and correctly label a generic graph illustrating an inflationary gap in the new classical model 16.4 Create and correctly label a generic graph illustrating the new classical perspective of the impact of an increase in AD in the short run and in the long run 16.5 Create and correctly label a generic graph illustrating a deflationary gap in the new classical model 16.6 Create and correctly label a generic graph illustrating the new classical perspective of the impact of a decrease in AD in the short run and in the long run 16.7 Create and correctly label a generic graph illustrating the Keynesian perspective of long-run equilibrium output below the full employment level of output 16.8 Create and correctly label a generic graph illustrating output gap illustrating the difference between an economy’s actual output and its potential output 16.9 Create and correctly label a generic graph illustrating the Keynesian perspective of the impact of an increase in AD when the economy is operating below full employment 16.10 Create and correctly label a generic graph illustrating the Keynesian perspective of the impact of an increase in AD when the economy is close to full employment 16.11 Create and correctly label a generic graph illustrating the Keynesian perspective of the impact of an increase in AD when the economy is at full employment 16.12 Create and correctly label a generic graph illustrating the Keynesian perspective of the impact of an increase in the LRAS when the economy is operating below full employment 16.13 Create and correctly label a generic graph illustrating the new classical perspective of the impact of an increase in the LRAS 16.14 Create and correctly label a generic graph illustrating the equilibrium in the labor market 17.2 Create and correctly label a generic graph illustrating real-wage unemployment 17.3 Create and correctly label a generic graph illustrating a decrease in AD 17.4 (a) Create and correctly label a generic graph illustrating demand-deficient unemployment 17.4(b) Create and correctly label a generic graph illustrating equilibrium unemployment 17.5 Create and correctly label a generic graph illustrating a fall in employment (structural unemployment) 17.6 Create and correctly label side-by-side generic graphs illustrating crowding out 17.7 Create and correctly label a generic graph illustrating demand-pull inflation 18.2 Create and correctly label a generic graph illustrating cost-push inflation 18.3 Create and correctly label a generic graph illustrating demand pull inflation 18.4 Create and correctly label a generic graph illustrating inflationary spiral 18.5 Create and correctly label a generic graph illustrating inflation due to excess monetary growth 18.6 Create and correctly label generic side-by-side graphs illustrating a deflationary gap / output gap 19.2 Create and correctly label generic side-by-side graphs illustrating economic growth to remove a deflationary gap / output gap 19.3 Create and correctly label generic side-by-side graphs illustrating economic growth through an increase in potential output 19.4 Create and correctly label a generic graph illustrating non-inflationary growth 19.5 Create and correctly label a generic graph illustrating Lorenz curve 20.1 International Economic Graphs Create and correctly label a generic graph illustrating production possibilities curves to show comparative advantage 21.1 Create and correctly label a generic graph illustrating identical opportunity costs (absolute advantage) 21.2 Create and correctly label a generic graph illustrating tariff on imports 22.2 Create and correctly label a generic graph illustrating subsidy on domestic production 22.3 Create and correctly label a generic graph illustrating quota on imports 22.4 Create and correctly label a generic graph illustrating an increase in the supply of Bds$ 23.1 Create and correctly label a generic graph illustrating an increase in the demand for Bds$ 23.2 Create and correctly label a generic graph illustrating a floating currency 23.3 Create and correctly label a generic graph illustrating an increase in the demand for the US dollar 23.5 Create and correctly label a generic graph illustrating an increase in the supply of the US dollar 23.6 Create and correctly label a generic graph illustrating free trade area 25.1 Create and correctly label a generic graph illustrating customs union 25.2 Create and correctly label a generic graph illustrating trade creation 25.3 Create and correctly label a generic graph illustrating trade diversion 25.4 Development Economic Graphs Create and correctly label a generic graph illustrating an example of poverty cycle 28.1 Create and correctly label a generic graph illustrating an example of world market for cotton 30.1 Create and correctly label a generic graph illustrating government “Spending Possibilities Line” 32.3