An increase in demand accompanied by a simultaneous decrease in supply will have what effect on equilibrium?
a. Price will either rise or fall; quantity will fall.
b. Price will rise; quantity will fall.
c. Price will rise; quantity will either rise or fall.
d. Price will either rise or fall; quantity will rise.
e. Price will fall; quantity will either rise or fall.
C
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If a pair-wise majority vote was held, the voters' preferences are shown in the table, and Abby is setting the agenda for votes, which pair will she put up for vote first?
A. Public zoo and public parks
B. Public transportation and public zoo
C. Public parks and transportation
D. It will not matter, as it will not affect the outcome of the voting.
A recession will occur if an economy's actual GDP ____ its potential GDP
a. rises above b. equals c. falls below d. grows faster than
Most economists think that, in the short run, there is
a. a trade-off between inflation and unemployment, but not in the long run. b. no trade-off between inflation and unemployment, nor is there one in the long run. c. a trade-off between inflation and unemployment, and in the long run also. d. no trade-off between inflation and unemployment, but there is one in the long run also.
If businesses are optimistic about future sales, the short-run aggregate supply curve will shift leftward
Indicate whether the statement is true or false