If business inventories decrease below desired levels, then it is most likely that a
A. Higher price level will occur.
B. Lower level of output will occur.
C. Recessionary gap will occur.
D. Higher level of unemployment will result.
Answer: A
Economics
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If supply decreases and demand increases, then the equilibrium
a. price will decrease and quantity will increase b. price will increase and quantity will decrease c. price will increase and quantity could increase, decrease, or remain the same d. price could increase, decrease, or remain the same and quantity will increase e. price will increase, decrease, or remain the same and quantity will decrease
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A monopolist firm may be more innovative than a competitive firm
a. True b. False Indicate whether the statement is true or false
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