When demand falls and supply remains the same, equilibrium price _______ and equilibrium quantity ________.
A. falls; falls
B. rises; rises
C. falls; rises
D. rises; falls
A. falls; falls
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In September, buyers of silver expect that the price of silver will rise in October. What happens in the silver market in September, holding all else constant?
A) The demand curve shifts to the right. B) The quantity demanded increases. C) The quantity demanded decreases. D) The demand curve shifts to the left.
If the economy is initially at equilibrium and an unexpected decline in aggregate demand takes place, in the short run aggregate output will
A) fall in the new classical view, but not in the new Keynesian view. B) fall in the new Keynesian view, but not in the new classical view. C) fall in both the new Keynesian and new classical views. D) remain at full employment in both the new classical and new Keynesian views.
Which of the following would increase GNP in the United States? Question 1 options:
A. an increase in the production of Mexican-owned Grupo Minsa corn in the U.S. B. an increase in the production of Japanese-owned Toyota cars in the U.S. C. an increase in the production of U.S.-owned General Motors cars made in Mexico D. an increase in the production of Japanese-owned Toyota cars in Mexico
The measurement of industry concentration which calculates the percentage of all sales contributed by a specific number of leading firms is called the
A. competition index. B. concentration ratio. C. Herfindahl-Hirschman Index. D. payoff matrix.