An increase in equilibrium quantity will result from each of the following except
A. an increase in supply and an increase in demand.
B. an increase in demand and no change in supply.
C. an increase in supply and no change in demand.
D. a decrease in demand and a decrease in supply.
D. a decrease in demand and a decrease in supply.
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Which of the following correctly describes a wage-price spiral?
a. An increase in nominal wages causes inflation, and inflation causes workers to demand even higher wages in order to keep their real income constant. This cycle can repeat itself. b. An increase in real wages due to growth in worker productivity causes inflation, which in turn increases worker productivity. c. A decrease in prices causes workers to demand higher wages, which in turn puts additional downward pressure on prices. d. None of the above.
A decrease in the price of foreign oil will affect the U.S. economy by
a. increasing aggregate demand. b. decreasing aggregate demand. c. increasing aggregate supply. d. decreasing aggregate supply.
A movement along a supply curve is called a change in supply while a shift of the supply curve is called a change in quantity supplied
a. True b. False Indicate whether the statement is true or false
Because nothing can be done about sunk costs, they are irrelevant to decisions about business strategy
a. True b. False Indicate whether the statement is true or false