A competitive market is in equilibrium. Then there is an increase in demand and an increase in supply. The equilibrium price ________, and the equilibrium quantity ________
A) rises; increases
B) perhaps changes but we can't say if it rises, falls, or stays the same; does not change
C) falls; increases
D) perhaps changes but we can't say if it rises, falls, or stays the same; increases
E) falls; perhaps changes but we can't say if it increases, decreases, or stays the same
D
Economics
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Monetarists accept the idea that velocity is not constant; nonetheless, they believe that it is still highly:
a. constant. b. unpredictable, ill-behaved, and independent of money supply. c. unpredictable, well-behaved, and dependent of money supply. d. predictable. e. variable.
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The demand for bread is likely to be more elastic than the demand for solid-gold bread plates
a. True b. False Indicate whether the statement is true or false
Economics