Assume the most typical shapes for the demand and supply in a competitive market. Suppose that demand falls and supply increases. Which of the following statements is correct?
a. The equilibrium price will fall; the equilibrium quantity may rise or fall.
b. The equilibrium price will rise; the equilibrium quantity may rise or fall.
c. The equilibrium quantity will fall; the equilibrium price may rise or fall.
d. The equilibrium quantity will rise; the equilibrium price may rise or fall.
e. The equilibrium price will fall; the equilibrium quantity will not change.
A
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
To calculate GDP it is necessary to add up the market value of all the ________ produced within a country during a year
A) intermediate goods and services produced and all the final goods and services produced B) intermediate goods and services produced C) goods but not services produced D) final goods and services produced E) goods and services produced
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What will be an ideal response?
If purchases of eduction and medical care were counted as investment rather than consumption, GDP would
A) not change, because there is no change in total expenditures B) increase, because investment is included in GDP but consumption is not C) increase, because consumption is included in GDP, but investment is not D) decrease, because investment is weighed more heavily than consumption in GDP E) decrease, because consumption is weighed more heavily in calculating GDP