The market clearing price of computer modems has just decreased. Which of the following could have caused this change?
A. an increase in demand with supply unchanged
B. a decrease in supply at the same time that demand increases
C. an increase in supply at the same time that demand decreases
D. a decrease in supply with demand unchanged
Answer: C
You might also like to view...
In the long run, when the Fed increases the quantity of money the
A) no real variable changes. B) price level falls. C) real interest rate rises. D) nominal interest rate falls.
______________ is the time that an individual cannot control totally by himself or herself
a. Discretionary time b. Real time c. Psychic time d. Nondiscretionary time
The opportunity cost of holding money is measured by the rate of interest
a. True b. False Indicate whether the statement is true or false
The issue of fairness versus efficiency arises
a. only in a command economy. b. only in a market economy. c. in neither a command nor a market economy. d. in both a command and a market economy.