An increase in equilibrium price and a decrease in equilibrium quantity is most likely the result of:
A. an increase in demand.
B. an increase in supply.
C. a decrease in demand.
D. a decrease in supply.
Answer: D
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The largest sector of a developing country is usually
a. agriculture b. manufacturing c. services d. infrastructure e. none of the above
When a nation has a high debt/GDP ratio, that nation generally will
a. require high taxes just to pay interest on the debt. b. be able to borrow funds at relatively low real interest rates. c. find that its bonds are attractive to international investors seeking low-risk investments. d. want to increase spending in order to gain the confidence of international investors.
A factor market is any place or process where
A. Finished services are bought and sold. B. Land, labor, or capital is bought and sold. C. Finished goods are bought and sold. D. None of the choices are correct.
Because resources are scarce relative to wants, the study of economics concerns
A. how money is important to people. B. how money is used to buy what people want. C. how individuals, businesses, and governments make choices. D. None of these are correct.