Equilibrium quantity must increase when demand
a. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply increase.
b. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease.
c. decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply increase.
d. decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease.
a
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The three main components of the aggregate demand—aggregate supply model include
A) AD, SRAS, LM. B) SRAS, LRAS, IS. C) AD, IS, LM. D) AD, SRAS, LRAS.
Which of the following statements about international trade restrictions is true?
a. They ensure that only efficient producers survive. b. They ensure that countries specialize only in those products that they can produce most efficiently. c. They harm domestic consumers in the majority of cases. d. They typically benefit foreign producers at the expense of domestic consumers. e. They ensure that higher-quality goods are provided at lower prices.