A decrease in supply of X increases the equilibrium price of X, which reduces the demand for X and automatically returns the price of X to its initial level.
Answer the following statement true (T) or false (F)
False
Economics
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Economics
During this century, court decisions on antitrust have:
a. changed from per se, to rule of reason, and back to per se. b. changed from rule of reason, to per se, and back to rule of reason. c. always emphasized per se. d. always emphasized rule of reason. e. varied from judge to judge without following any pattern.
Economics
The current chairman of the Federal Reserve Board of Governors is
a. Milton Friedman b. Alan Greenspan c. Paul Volcker d. James Baker e. John Maynard Keynes
Economics
If mining companies are indifferent between operating and not operating a quarry, that quarry is
a. discounted. b. usurious. c. marginal. d. nonexcludable.
Economics