A change in the price of a good causes
A. an increase in demand and a decrease in supply.
B. an increase in supply.
C. a decrease in supply.
D. a change in quantity supplied.
Answer: D
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Policy making that is carried out in response to a rule is
A) restrictive policy making. B) passive policy making. C) determined policy making. D) active policy making.
If the law of demand holds, then
A. the demand curve has a negative slope. B. the demand curve has a positive slope. C. the demand curve shifts whenever the price changes. D. the diminishing marginal utility is not valid.
The redistribution of income creates the big tradeoff, which is a tradeoff between ________
A) income and wealth B) equity and efficiency C) rich and poor D) Supplementary Security Income and the Food Stamp program
Bad health is an example of:
A. a social digression. B. a poverty trap. C. a societal trap. D. None of these is true.