The equilibrium price will fall and the equilibrium quantity might increase, decrease, or stay the same when the
A) demand and the supply of a good both increase.
B) demand for a good increases and the supply of it decreases.
C) demand for a good decreases and the supply of it increases.
D) demand and the supply of a good both decrease.
C
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For the past 40 years the Federal Reserve has expressed policy in terms of a target value for:
A. open market operations. B. bank reserves. C. the Federal Reserve discount rate. D. the federal funds rate.
Elly needs to get her leaking faucet repaired as soon as possible. She gets in touch with a plumber who asks for an unreasonably high fee. If no other plumber is available for work, who has a higher bargaining power? Explain your answer
What will be an ideal response?
Refer to Figure 2-8. What is the opportunity cost of producing 1 ton of coconuts in Costa Rica?
A) 3/8 of a ton of pineapples B) 2/3 of a ton of pineapples C) 1 1/2 tons of pineapples D) 100 tons of pineapples
If you were asked to draw a graph that showed the total fixed costs (vertical axis) for various levels of output (horizontal axis), you would draw a line/curve that
a. increased with a slope equal to the average fixed cost b. decreased with a slope equal to the average fixed cost c. increases for a while and then decreases d. decreases for a while and then increases e. had a slope of zero