It is normal and typical in a debt crisis for debtors to completely repudiate all their debts
Indicate whether the statement is true or false
FALSE
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Refer to the figure below. Assume demand remains unchanged at D1. If supply shifts from S2 to S1, then the equilibrium price will ________ and the equilibrium quantity will ________. 
A. rise; rise B. rise; fall C. fall; fall D. fall; rise
Economists generally assume that
a. firms act to maximize the dividends paid to stockholders b. households act to maximize their wealth c. households act to maximize utility d. firms act to maximize revenue e. both households and firms act to minimize expenditures
If there is both an increase in the supply of a good and a decrease in demand for a good, which of the following will definitely occur?
a. The price of the good will increase. b. The equilibrium quantity will decrease. c. The price of the good will decrease. d. The equilibrium quantity will increase.
Which buyers and sellers are included in the market under consideration depends on:
A. their physical proximity. B. the context. C. the income levels. D. their preferences.