Equilibrium price must increase when demand
a. increases and supply does not change, when demand does not change and supply decreases, and when demand decreases and supply increases simultaneously.
b. increases and supply does not change, when demand does not change and supply decreases, and when demand increases and supply decreases simultaneously.
c. decreases and supply does not change, when demand does not change and supply increases, and when demand decreases and supply increases simultaneously.
d. decreases and supply does not change, when demand does not change and supply increases, and when demand increases and supply decreases simultaneously.
b
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When price falls, demand rises.
Answer the following statement true (T) or false (F)
Firms that face downward-sloping demand curves for their output in the product market are called
A) price takers. B) monopolists. C) price dictators. D) price makers.
Which of the following is an example of a disincentive?
A. Law enforcement creates a "Mug Shots" section online in order to discourage potential law breakers. B. You offer workers a bonus if they sell 100 widgets per month. C. A local gym offers a weight loss competition and the winner earns a free trip to Bermuda. D. Your professor offers to edit your paper before it's graded if you turn it in early.
From 1980 to 1987
a. foreigners were buying more assets from the United States than Americans were buying abroad. The United States was going into debt. b. Americans were buying more assets abroad than foreigners were buying from the United States. The United States was going into debt. c. foreigners were buying more assets from the United States than Americans were buying abroad. The United States was moving into surplus. d. Americans were buying more assets abroad than foreigners were buying from the United States. The United States was moving into surplus.