If supply and demand both simultaneously increase
A) the market clearing price definitely rises, and the equilibrium quantity definitely falls.
B) the market clearing price definitely rises, and the effect on the equilibrium quantity is indeterminate.
C) the market clearing price definitely falls, and the effect on the equilibrium quantity is indeterminate.
D) the effect on the market clearing price is indeterminate, and the equilibrium quantity definitely rises.
Answer: D
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Are the members of the Board of Governors of the Federal Reserve System elected officials?
What will be an ideal response?
A nation can produce two products: tanks and autos. The table below is the nation's production possibilities:
Refer to the above table. According to the production possibilities schedule, a combination of 4 tanks and 650 autos is:
A. Attainable, and involves an efficient use of society's resources
B. Attainable, but would not be in the best interests of a strong national defense
C. Less than (or below) the maximum attainable output combination
D. Not attainable because the nation does not have sufficient resources