A simultaneous decrease in the demand and the supply of good X always leads to a decrease in the price of good X
Indicate whether the statement is true or false
False
You might also like to view...
In the past, there was a strong correlation between ice cream consumption by children and polio cases for children. There was not a causal relationship due to:
A. a common underlying omitted variable. B. reverse causality. C. accounting fraud practiced by Baskin Robbins. D. an infection present in cherries.
Which of the following components of AE (AD) accounts for approximately 50% of Ireland's GDP?
(a) Domestic household expenditure. (b) Exports (X). (c) Investment (I). (d) The net expenditure of central and local government
If the slopes of the ________ involving corn and wheat in the United States and Canada are equal, specialization does not benefit either country.
A. production possibility frontiers B. marginal revenue curves C. supply curves D. demand curves
Refer to the Laffer Curve above. An increase in the tax rate from T2 to T3 would:
A. Decrease tax revenues and support the views of supply-side economists
B. Increase tax revenues and support the views of supply-side economists
C. Increase tax revenues and support the views of mainstream economists
D. Decrease tax revenues and support the views of mainstream economists