In the market for chocolate chip cookies, if the demand decreases while the supply increases, the price definitely falls but the quantity might increase, decrease, or remain the same
Indicate whether the statement is true or false
TRUE
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The employment-to-population ratio equals
A) (labor force)/(working-age population) × 100. B) (number of people employed)/(labor force) × 100. C) (number of people with full-time jobs)/(labor force) × 100. D) (number of people employed)/(working-age population) × 100.
Seigniorage is government revenue raised by
A) a tax on transactions. B) issuance of treasury bonds. C) issuance of money. D) lump-sum taxation.
Which of the following will cause the demand curve for a good to shift to the right?
A. Decrease in income for a normal good. B. Increase in the price of a complementary good. C. Decrease in the price of the good. D. Increase in the price of a substitute good.
Answer the following statements true (T) or false (F)
1. Economic theory and economic policy are synonymous. 2. Your decision to attend college was a microeconomics choice. 3. Goods directly used by individuals and households are known as capital goods. 4. The relationship between the price of a book and the number of volumes purchased would be an example of microeconomics.