When the supply of a good increases and the demand stays the same
A. the price of the good will rise.
B. the price of the good will fall and quantity will not change.
C. the price of the good will remain the same.
D. the price of the good will fall and quantity will rise.
D. the price of the good will fall and quantity will rise.
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The value of a good is
a. subjective. b. objective or intrinsic. c. determined by a government statistical agency. d. determined by its cost of production.
As disposable income rises, consumption:
a. Increases and saving decreases b. And saving both decrease c. Decreases and saving increases d. And saving both increase
If imports of goods are greater than exports of goods, the nation is experiencing a:
A. negative balance on current account. B. goods trade deficit. C. capital account imbalance. D. weakening of its currency.
Under a rule of reason approach, which of the following would be legal in the United States?
A. The merger of Paco's Taqueria and Maria's Mexican Bistro, independent restaurants in the unconcentrated sit-down restaurant market. B. Price fixing between IBM and Compaq. C. Ford and General Motors electing the same person to their boards of directors. D. Kellogg's and General Mills collude to drive Quaker Oats out of the business.