Suppose that for a given good demand increases and supply increases at the same time. If demand increases by a lesser amount than supply increases, then equilibrium price __________ and equilibrium quantity __________ for that good
A) rises; falls
B) falls; falls
C) rises; rises
D) falls; rises
D
You might also like to view...
What would happen to the optimal amount of pollution if studies found dangerous effects of SO2 cause cancer and the government takes away subsidies to companies for cleaning up their pollution?
A. Uncertain B. Increase C. Stay the same D. Decrease
A specified amount of a claim that the insurance company does not need to pay is called:
A) coinsurance B) deductible C) copayments D) premium
Which of the following is true with regard to economic growth? a. Small differences in economic growth rates make small differences in Real GDP over time
b. Once a country is richer than other countries, it will remain richer regardless of differences in economic growth rates. c. Economic growth rates tell us nothing about the distribution of output and income in a country. d. All of the above are true.
When the monopoly firm is able to charge a higher price, the amount of ________ also increases, thus magnifying the importing nation's __________.
a. quota rents; losses b. comparative advantage; gains from trade c. profits; welfare d. protection; employment gains