Refer to the information provided in Figure 3.15 below to answer the question(s) that follow.
Figure 3.15Refer to Figure 3.15. The current quantity of bags of pretzels supplied is 100. You accurately predict that in this market
A. price, quantity demanded, and quantity supplied decrease.
B. price and quantity demanded increase and quantity supplied decreases.
C. price tends to remain constant and quantity supplied increases.
D. price and quantity supplied decrease and quantity demanded increases.
Answer: D
You might also like to view...
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
In the early 1980s, rising interest rates caused a tremendous __________ in the value of savings-and-loan __________
A) inflow; liabilities B) inflow; assets C) outflow; liabilities D) outflow; assets
If Year 1 is the base year, the real GDP of Year 2 is
A) $800. B) $1050. C) $1900. D) $2400.
The average income in a rich country
a. is about 5 times that in a poor country. Further, people in rich countries have longer life expectancy. b. is about 5 times that in a poor country. However, people in rich countries have about the same life expectancy as those in poor countries. c. is more than ten times that in a poor country. Further, people in rich countries have longer life expectancy. d. is more than ten times that in poor country. However, people in rich countries have about the same life expectancy as those in poor countries.