When demand and supply both increase, equilibrium price will _________ and equilibrium quantity will _________.
A. increase; increase
B. decrease; increase
C. remain the same; increase
D. Any of these answers are possible
D. Any of these answers are possible
You might also like to view...
In economics, the term "autonomous" means
A) disposable income. B) non-economic related. C) existing independently. D) cash payments.
Some economists believe that the Asian crisis in 1997
A) could have been avoided if stronger action had been taken by major countries and international agencies. B) was inevitable since most of the economies were experiencing slow economic growth. C) was made worse by the refusal of the IMF to take any actions. D) was necessary to rid those economies of inflation.
Recently, new discount window lending procedures set a penalty rate that is normally __________ short-term market interest rates
A) just below B) above C) approximately equal to D) None of the above.
If consumer incomes go up and you are analyzing the market for Harley Davidson motorcycles, the effect on the demand for motorcycles, ceteris paribus, will be
a. an upward movement along the demand curve for motorcycles. b. a downward movement along the demand curve for motorcycles. c. a rightward shift in the demand curve for motorcycles. d. a leftward shift in the demand curve for motorcycles.