Which of the following is false?
a. If demand decreases and supply increases, the equilibrium price will rise
b. If supply decreases and demand remains the same, the equilibrium price will rise.
c. if supply increases and demand decreases, the equilibrium price will fall.
d. if demand increases and supply decreases, the equilibrium price will rise.
a
You might also like to view...
If a 5 percent increase in income brings about a 10 percent decrease in the demand for a good, then the
A) good is a normal good. B) good is an inferior good. C) income elasticity of demand is 0.5. D) income elasticity of demand is 2.0. E) income elasticity of demand is 5.0.
What is the output gap? How does it change when the economy goes into recession?
What will be an ideal response?
Refer to Figure 2-1. Which arrow represents the flow of goods and services?
a. A
b. B
c. C
d. D
The level of capital stock increases when investment in physical capital is:
A. greater than investment in human capital. B. less than depreciation. C. greater than depreciation. D. greater than personal consumption.