Use the tools of supply and demand to explain what happened in II Kings 7:16-20. What do
Question:
Use the tools of supply and demand to explain what happened in II Kings 7:16-20. What do you think happened to elasticity as well?
II Kings 7:16-20
Then the people went out and plundered the camp of the Arameans. So a seah of the finest flour sold for a shekel, and two seahs of barley sold for a shekel, as the LORD had said. Now the king had put the officer on whose arm he leaned in charge of the gate, and the people trampled him in the gateway, and he died, just as the man of God had foretold when the king came down to his house. It happened as the man of God had said to the king: “About this time tomorrow, a seah of the finest flour will sell for a shekel and two seahs of barley for a shekel at the gate of Samaria.” The officer had said to the man of God, “Look, even if the LORD should open the floodgates of the heavens, could this happen?” The man of God had replied, “You will see it with your own eyes, but you will not eat any of it!” And that is exactly what happened to him, for the people trampled him in the gateway, and he died.
Macroeconomics
ISBN: 978-1464168505
5th Canadian Edition
Authors: N. Gregory Mankiw, William M. Scarth