When the demand and supply of a good both shift in the same direction and amount:
a. Price will change in the same direction as the shifts in supply and demand
b. Price will change in the opposite same direction as the shifts in supply and demand. change in price and an increase in quantity exchanged.
c. Quantity exchanged will change in the same direction as that of the shifts in supply and demand.
d. Quantity exchanged will change in the opposite direction from that of the shifts in supply and demand
c
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Increases in autonomous expenditure induce ________ in aggregate expenditure thereby making the multiplier ________
A) further increases; greater than one B) further increases; unnecessary C) further increases; less than one D) a decrease; less than one E) a decrease; greater than one
Which of the following correctly describes the external benefit resulting from an individual's purchase of a winter flu shot?
a. The flu shot is cheaper than the cost of treatment when you get the flu. b. The income of doctors increases when you get the flu shot. c. The flu shot reduces the likelihood others will catch the flu. d. The flu shot reduces the likelihood you will miss work as the result of sickness; therefore, you will earn more income.
Globalization does not mean:
A) the homogenizing of markets. B) when one product or one brand is sold in many different international markets. C) the increase in trade among nations. D) the establishment of manufacturing plants in more than one nation. E) the purchase of supplies from foreign firms.
The idea that business cycles are nothing more than variations in the rate of growth of a full-employment economy is proposed by
a. Keynesian theorists b. Kuznets cycle theorists c. innovation cycle theorists d. real business cycle theorists e. internal cycle theorists