All else equal, a decrease in the demand for oranges will lead to a(n) ________ in equilibrium price and a(n) ________ in equilibrium quantity.
A. decrease; decrease
B. increase; decrease
C. decrease; increase
D. increase; increase
Answer: A
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Any action that gives rise to a demand for foreign currency is a
A) deficit item on the current, financial, or capital account. B) deficit item on the current account and a surplus item on the financial and capital accounts. C) surplus item on the current account and a deficit item on the capital and financial accounts. D) surplus item on the current, financial, or capital account.
Which of the following firms faces monopolistic competition?
a. A poultry farm selling eggs to different bakeries b. A fashion store selling clothes at an up-scale boutique c. A fruit-bowl shop at a local market d. A movie hall selling tickets in advance for an upcoming blockbuster
If Sam does not have a job and is NOT currently looking for work but has looked in the past, he is considered:
A. unemployed and in the labor force. B. unemployed and not in the labor force. C. not in the labor force. D. unemployed.
One source of the supply of dollars in the world is
A) the purchase of U.S. exports by foreign residents. B) the sale of U.S. domestic assets to foreigner residents. C) U.S. imports of foreign merchandise. D) U.S. sales of gold to foreigner residents.