A budget line is drawn with automobiles on the vertical axis and boats on the horizontal. Imposing a tax on boats that boosts the price of a boat makes the

Higher prices lead to higher levels of real wealth

Indicate whether the statement is true or false

If the supply curve illustrates the quantities producers plan to sell at given prices, and the demand curve illustrates the quantities consumers plan to buy at given prices, then the plans of producers and consumers are fully coordinated at the point

where A) the supply curve lies above the demand curve. B) the supply curve intersects the demand curve. C) the demand curve lies above the supply curve. D) the amount of a good needed by consumers exactly equals the amount supplied by producers.