Assume both the demand for beef and the supply of beef decrease. Which of the following outcomes is certain to occur?
A. The equilibrium quantity of beef will fall.
B. The equilibrium price of beef will fall.
C. The equilibrium quantity of beef will rise.
D. The equilibrium price of beef will rise.
Answer: A
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If all consumers are uninformed about the quality of a product
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When people become underemployed, they not only lose income immediately, but they may also have a permanent decrease in income even after regaining employment
a. True b. False Indicate whether the statement is true or false
Which of the following expressions must be equal to national saving for a closed economy?
a. Y - I - G - NX b. Y - C - G c. Y - I - C d. G + C - Y