If demand decreases and supply increases, which of the following is correct? Question 10 options:
A. The equilibrium price falls but the impact on the equilibrium quantity is ambiguous.
B. The equilibrium price rises but the impact on the equilibrium quantity is ambiguous.
C. The equilibrium quantity increases but the impact on the equilibrium price is ambiguous.
D. The equilibrium quantity decreases but the impact on the equilibrium price is ambiguous.
E. The equilibrium price falls and the equilibrium quantity decreases.
A. The equilibrium price falls but the impact on the equilibrium quantity is ambiguous.
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According to this Application, economist Daron Acemoglu categorizes which of the following as authoritarian institutions?
A) democracies, monarchies, and dictatorships B) monarchies, dictatorships, and tightly controlled oligarchies C) constitutionally limited monarchies and democracies D) tightly controlled oligarchies, democracies, and constitutionally limited monarchies
Joey's Lawncutting Service rents office space from Joey's dad for $300 per month. Joey's dad is thinking of increasing the rent to $400 per month. As a result Joey's marginal cost of cutting grass will
A) increase by $100 divided by the amount of grass cut. B) increase by $100. C) decrease by $100. D) not change.
Americans choose cola over other flavors 70 percent of the time. Analysts say this is because cola's flavor is more robust and durable. Orange soda, for example, suffers from flavor fatigue faster than cola. Also, because cola contains caffeine, people may be addicted to the stimulant. Which panel in Figure 5-1 best illustrates these facts?
a. 1
b. 2
c. 3
d. 4
Which of the following is least likely to result in inflation?
a. A drought in California that causes farm production to fall. b. The government printing money to finance deficits. c. A reduction in consumer confidence. d. Rising instability in oil-producing nations.