If demand rises, what happens to equilibrium price and quantity?
Fill in the blank(s) with the appropriate word(s).
price rises; quantity rises
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Of the following, which is the least likely to be an example of substitute goods?
A) beer and pretzels B) margarine and butter C) beef and chicken D) tea and coffee
Quantitative easing refers to a situation in which conventional monetary policy is ineffective in fighting an economic slump because nominal interest rates are up against the zero bound
a. True b. False Indicate whether the statement is true or false
Someone who is deemed irrational from an economic standpoint is someone who
a. voluntarily partakes in actions contrary to his personal preferences. b. voluntarily partakes in actions contrary to what society deems acceptable. c. voluntarily partakes in actions that the majority of consumers would not. d. sets prices at ninety-nine cents.
Which one of the following statements is TRUE?
A. In the Keynesian model, the supply of saving is determined by the level of investment. B. In the classical model, the supply of saving is determined by the rate of interest. C. In the classical model, the supply of saving is determined by the level of income. D. In the Keynesian model, the supply of saving is determined by the rate of interest.