If supply increases and demand is unchanged, the equilibrium price ____ and the equilibrium quantity ____. Question 26 options:
A. rises; decreases
B. does not change; does not change
C. falls; decreases
D. rises; increases
E. falls; increases
E. falls; increases
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When buying a car from a commission salesman you improve your bargaining position by
a. shopping for last year's model when the new model year cars are arriving b. shopping when the showroom is full of customers c. shopping when the car lot has few cars left unsold d. shopping toward the beginning of the month
Which of the following comparisons of efficiency and equity is correct?
a) Efficiency deals with the size of the economic pie and equity deals with how fairly the pie is sliced. b) Equity can be judged on positive grounds, whereas efficiency requires normative judgments. c) Efficiency is more difficult to evaluate than equity. d) Equity and efficiency are both maximized in a society when total surplus is maximized.
An increase in interest rates results in
A. increased consumption and decreased savings. B. increased savings and decreased consumption. C. an increase in autonomous consumption. D. an increase in the durable goods expenditures.
High protective tariffs
A. would be supported by most economists. B. will become more likely if we do not reduce our trade deficit. C. have very little support. D. would definitely solve all our trade problems.