If the demand for a good decreased, what would be the effect on the equilibrium price and quantity?
a. Price would increase, and quantity would decrease.
b. Price would decrease, and quantity would decrease.
c. Price would increase, and quantity would increase.
d. Price would decrease, and quantity would increase.
B
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The main disadvantage of using money as a store of value is that
A. unlike other assets, money serves as a medium of exchange. B. barter is a more efficient way to conduct transactions than using money. C. other assets pay relatively higher rates of interest than money. D. other assets provide greater anonymity than cash.
Of the following, which good has the most elastic demand?
A) food B) breakfast food C) cereal D) Post Raisin Bran E) Post Raisin Brand purchased at a Safeway grocery store
Total consumer surplus is measured by the total area under the market demand curve and below the equilibrium price
a. True b. False Indicate whether the statement is true or false
When the market estimate of a company's riskiness increases the market adjusts by
a. having the supply of that bond increase. b. having the supply of that bond decrease. c. having the demand for that bond increase. d. having the demand for that bond decrease.