Assume both the demand for bagels and the supply of bagels increase. Which of the following outcomes is certain to occur?
A. The equilibrium quantity of bagels will rise.
B. The equilibrium quantity of bagels will fall.
C. The equilibrium price of bagels will fall.
D. The equilibrium price of bagels will rise.
Answer: A
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Bobby spends $100 per month on pizza and CDs. His utility from these goods is shown in the table above. The price of a pizza is $10 and the price of a CD is $20. Bobby currently buys 2 pizzas and 6 CDs
To maximize his utility in the next period, he should A) buy more pizza and fewer CDs. B) buy more CDs and fewer pizza. C) buy more of both goods. D) stay with the current combination of goods.
Well over half of all state and local government expenditures goes towards (1) _____; (2) _____; and (3) _____.
Fill in the blank(s) with the appropriate word(s).
Suppose the euro appreciates against the dollar. This causes U.S. exports to become less expensive for consumers in the European Union, which would likely cause the U.S.
A. aggregate demand to shift leftward. B. aggregate supply to shift rightward. C. aggregate demand to shift rightward. D. aggregate supply to shift leftward.
The GDP price index can be interpreted as
A) (nominal GDP - real GDP) ÷ 100. B) (real GDP ÷ nominal GDP) × 100. C) (real GDP - nominal GDP) ÷ 100. D) (nominal GDP + real GDP) ÷ 100. E) (nominal GDP ÷ real GDP) × 100.