A decrease in the price of GPS systems will result in
A) a larger quantity of GPS systems supplied. B) a decrease in the demand for GPS systems.
C) a smaller quantity of GPS systems supplied. D) an increase in the supply of GPS systems.
C
Economics
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Suppose some firms in a perfectly competitive market are incurring an economic loss. As a result,
A) all the firms will eventually incur an economic loss. B) some firms will leave the market and the price of the good will rise. C) some firms will leave the market and the remaining firms' quantity will decrease. D) the total market economic profit must equal $0.
Economics
When there is a liquidity trap, the money demand curve is ________.
A. downward sloping B. flat C. upward sloping D. vertical
Economics