When the demand for a product decreases but the supply of the product remains unchanged,
A. the price of the product will rise and quantity will decrease.
B. the price of the product will be unaffected.
C. the price of the product will fall and quantity will remain the same.
D. the price of the product will fall and the quantity will fall.
D. the price of the product will fall and the quantity will fall.
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In the above figure, if a subsidy is granted to producers that generates an efficient level of production, then the deadweight loss will be
A) zero. B) $500 C) $1,000. D) $2,000.
Under a fractional reserve banking system, banks have reserves of only a fraction of their total deposits
a. True b. False Indicate whether the statement is true or false
Which of the following statements best describes the actions of the economists and policymakers of the Great Recession?
a. The economists and policymakers of the Great Recession era were not content to let the markets recover from recession without taking proactive measures to support consumption and investment. b. The economists and policymakers of the Great Recession era were content to let the markets recover from recession without taking proactive measures to support consumption and investment. c. The economists and policymakers of the Great Recession era were not content to let the markets recover from recession without taking reactive measures to support consumption and investment. d. The economists and policymakers of the Great Recession era were content to let the markets recover from recession without taking reactive measures to support consumption and investment.
A movement along a supply curve is called a change in supply while a shift of the supply curve is called a change in quantity supplied
a. True b. False Indicate whether the statement is true or false