Equilibrium price must decrease 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.
c
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In 2011, U.S. GDP totaled approximately:
a. $2.1 trillion b. $2.8 trillion c. $10.7 trillion d. $15.0 trillion
As a price change persists over a long period of time, we should expect the demand elasticity to fall
a. True b. False Indicate whether the statement is true or false
State and local governments receive more money from ________ than from any other source.
A. grants from higher levels of government B. grants from lower levels of government C. sales taxes D. property taxes
Refer to the information provided in Table 25.8 below to answer the question(s) that follow.Table 25.8
Refer to Table 25.8. If the required reserve ratio were changed to 10% and Alamo Bank continues to hold $1,200,000 in reserves, its excess reserves will be
A. $150,000. B. $300,000. C. $600,000. D. $900,000.