If demand decreases and supply is unchanged, then the equilibrium price ____ and the equilibrium quantity ____. Question 9 options:
A. does not change; does not change
B. rises; decreases
C. falls; decreases
D. falls; increases
E. rises; increases
C. falls; decreases
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In the above figure, if the real wage is $10 per hour, a labor
A) shortage will occur and the real wage will rise. B) shortage will occur and the real wage will fall. C) surplus will occur and the real wage will rise. D) surplus will occur and the real wage will fall.
Sales maximization and profit maximization are essentially equivalent
a. True b. False Indicate whether the statement is true or false
A tax cut targeted at ____ people may have a bigger effect because a. poorer; poorer people tend to spend a higher share of their income
b. poorer; poorer people tend to spend a lower share of their income. c. wealthier; wealthier people tend to spend a higher share of their income. d. wealthier; wealthier people tend to spend a lower share of their income.
Holding everything else unchanged, higher interest rates in the U.S.
A) increase the demand and reduce the supply of dollars leading to an increase in the exchange rate. B) decrease the demand and the supply of dollars leading to an decrease in the exchange rate. C) increase the demand and the supply of dollars leading to an increase in the exchange rate. D) decrease the demand and increase the supply of dollars leading to a decrease in the exchange rate.