Which of the following is likely to result in a higher equilibrium price?
a. An increase in both demand and supply

Which of the following does not explain why consumers buy products that many other consumers are already buying?

A) cost-effective way to gather information about a product B) the satisfaction people derive by being viewed as "fashionable" C) differences in tastes and preferences D) technology

GDP tends to overstate economic well-being because it takes into account:

A.  Improvements in product quality over time B.  Expenditures undertaken to correct pollution C.  Illegal activities of individuals and businesses D.  Nonmarket activities, such as the productive work of homemakers