Suppose demand increases and supply increases. Which of the following will happen?
a. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will decrease.
b. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will increase.
c. Equilibrium quantity will rise, fall, or stay the same and equilibrium price will increase.
d. Equilibrium quantity will rise, fall, or stay the same while equilibrium price will decrease.
e. The change in equilibrium price and quantity cannot be determined.
B
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In the foreign exchange market, how does a change in expected future U.S. exchange rate affect the demand for dollars?
What will be an ideal response?
Real GDP is:
A. calculated based on goods and services valued at constant prices. B. calculated based on goods and services valued at current prices (current at the time of production). C. useful in clearly seeing changes in prices over time using GDP. D. the actual GDP that is created in the economy when we consider all items purchased.
A single proprietorship is a form of business organization which:
a) has limited liability. b) has unlimited access to money capital. c) has a single owner but has directors who are responsible for the firm?s debts. d) has one owner-manager who is personally responsible for the firm?s actions and debts. e) allows easy transferability of ownership by the trading of shares.
At the equilibrium price, there are
A. Shortages. B. Excess inventories. C. Surpluses. D. No shortages or surpluses.