Which of the following statements is false?
A) An increase in demand causes equilibrium price and quantity to rise.
B) A decrease in demand causes equilibrium price and quantity to fall.
C) An increase in supply causes equilibrium price to fall and quantity to rise.
D) A decrease in supply causes equilibrium price to rise and quantity to rise.
D
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The rate of economic growth will be faster if
A) the rate of growth of the population is higher. B) consumption spending is greater. C) the rate of saving is higher. D) the rate of growth of the money supply is higher.
All centrally planned economies
A) have been political dictatorships. B) started out as market economies. C) have become mixed economies. D) began as mixed economies.
Which of the following is the largest source of revenue for the U.S. federal government?
A) sales taxes B) the individual income tax C) social insurance taxes D) property taxes
In reference to industrywide advertising, managers of non-agricultural and non-franchised industry associations face which of the following problems?
A) The participating firms can both free -ride and protest the amount they are asked to pay for the advertising. B) The participating firms can protest the amount they are asked to pay for the advertising, but they cannot free -ride. C) The participating firms can neither free -ride nor protest the amount they are asked to pay for the advertising. D) The participating firms can free-ride, but they cannot protest the amount they are asked to pay for the advertising.