When supply decreases and the supply curve shifts to the left, equilibrium price ________ and equilibrium quantity ________
A) increases; decreases B) decreases; increases
C) decreases; decreases D) increases; increases
A
Economics
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According to the law of demand,
A) everything has its price. B) human wants are insatiable. C) people will do anything to obtain goods they want. D) there are no free goods. E) there is a negative relationship between the amount of anything people will purchase and the sacrifice that must make to obtain it.
Economics
Which of the following would be included in the calculation of GDP?
(A) Time and effort spent shopping for your household. (B) Paying your nephew to mow the lawn. (C) Purchasing a new vehicle. (D) Selling your car to a friend.
Economics