If supply increases, the equilibrium price will rise and the equilibrium quantity will fall
a. True
b. False
Indicate whether the statement is true or false
False
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There are several assumptions that are the basis of the operation of the benchmark competitive labor market. Which of the following is not one of these assumptions?
A. Wage rates are costlessly observable. B. Compensation is made up of wages and benefits. C. There are no long-term contracts. D. All jobs are identical.
If consumers spend 85 cents out of every extra dollar received, the:
A. MPC is 0.85. B. MPC is 0.15. C. MPC is 6.67. D. MPS is 0.85.
Other things held constant, the lower the price of a good
A. the higher the supply. B. the lower the producer surplus. C. the greater the producer surplus. D. the lower the supply.
The two links between the goods market and the money market are income and the interest rate
Indicate whether the statement is true or false