A decrease in both supply and demand will lead to a decrease in equilibrium quantitY
a. true
b. false
Answer: a. true
Economics
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What are the five main economic goals of the United States?
What will be an ideal response?
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When there is high and variable inflation, markets will adjust toward their equilibrium prices and quantities more erratically and slowly. Additionally, many individual markets will experience a _________ chance of surpluses and shortages.
a. greater b. lower c. reduced d. constant
Economics
A likely example of complementary goods for most people would be
a. butter and margarine. b. lawnmowers and automobiles. c. chips and salsa. d. cola and lemonade.
Economics
The best measure of average income for a country is
A. Per capita GDP. B. Real GDP. C. The economic growth rate. D. The capital stock of the economy.
Economics