Ceteris paribus, a decrease in the demand for automobiles will
a. increase the price of automobiles.
b. increase the quantity supplied of automobiles.
c. decrease the demand for automobile workers.
d. increase the demand for automobile workers.
C
You might also like to view...
One of the principles behind the concept of the circular flow is that
A) in every economic exchange, the seller receives exactly the same amount that the buyer spends. B) in every economic exchange, the seller receives less than the amount that the buyer spends. C) in exchange involving products, the seller receives less than the amount the buyer spends, but in resource markets the seller receives more than the buyer spends. D) the seller of goods receives exactly the same amount that the buyer spends, but the seller of resources receives less than the buyer spends.
An open-market purchase of foreign bonds to increase a central bank's international reserves:
A. increases the central bank's liabilities and decreases its assets. B. increases the central bank's liabilities and assets. C. decreases the central bank's assets and liabilities. D. increases the central bank's assets but decreases its liabilities.
The consumer surplus is
A. the area under the demand curve from the origin to the quantity purchased. B. the area under the demand curve but above the price line from the origin to the quantity purchased. C. the area under the supply curve from the origin to the quantity produced. D. the area under the supply curve but below the price line from the origin to the quantity purchased.
The Nash Equilibrium outcome assures the maximum profit for firms.
Answer the following statement true (T) or false (F)