When supply and demand for a product increase simultaneously, we
A) can predict that both the market clearing price and the equilibrium quantity will increase.
B) can predict that both the market clearing price and the equilibrium quantity will decrease.
C) cannot predict the market clearing price, but know that the equilibrium quantity will increase.
D) cannot predict the change in either the equilibrium quantity or the market clearing price.
C
You might also like to view...
Other things remaining the same, a ________ in the real interest rate ________ the quantity of saving supplied and ________ the quantity of loanable funds supplied
A) rise; increases; decreases B) fall; increases; decreases C) fall; increases; increases D) fall; decreases; increases E) rise; increases; increases
According to the data in the table above, real GDP per person grew at a rate of ________ between year 1 and year 2
A) 10 percent B) 0 percent C) 1 percent D) 5 percent E) 50 percent