If the quantity of a good exchanged increased,
a. It would also increase the price if it was caused by a shift in demand
b. It would also increase the price if it was caused by a shift in supply.
c. We would not know how price would change if we didn't know whether it was due a shift in demand or a shift in supply.
d. Answers a. and c. would both be true.
d
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The region of the U.S. that benefited least from and fought hardest against raising tariffs in the first half of the nineteenth century was
(a) New England. (b) the Middle Atlantic states. (c) the South. (d) the West.
The long-run level of RGDP changes whenever the aggregate demand curve shifts
a. True b. False Indicate whether the statement is true or false
Which of the following is the term for an innovative new product or production technology that disrupts the status quo in a market, leading the innovators to earn more income and profits and the other firms to either lose income and profits, or come up with their own innovations?
a. disruptive technological change. b. disruptive market change. c. disruptive trade change. d. disruptive transfer change.
The unemployment rate equals the percentage of the labor force that is unemployed
a. True b. False Indicate whether the statement is true or false