For a given supply curve, an increase in demand will typically
a. increase price, but quantity could change in either direction
b. increase quantity, but price could change in either direction
c. increase price but leave quantity unchanged
d. decrease both quantity and price
e. increase both quantity and price
E
You might also like to view...
If the demand for one good decreases when the price of another good decreases, the two goods are ________ goods
A) normal B) inferior C) complementary D) substitute
The new growth theory was developed by ________ and proposes that ________
A) Thomas Malthus; increases in population drive wages to their subsistence level B) Ben Bernanke; changes in the money supply drive economic growth C) Paul Romer; the desire for profits drives increases in real GDP per person D) Adam Smith; markets will determine the appropriate economic growth rate E) Robert Solow; increases in technology growth are responsible for economic growth