When the supply of a good decreases, there will be a(n):
A. increase in the quantity demanded.
B. decrease in buyers' reservation prices for the good.
C. decrease in the quantity demanded.
D. decrease in demand.
Answer: C
Economics
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In the United States, the most commonly cited measure of the price level is the consumer price index
Indicate whether the statement is true or false
Economics
In the diagram, the economy's immediate-short-run AS curve is line ______, its short-run AS curve is _____, and its long-run AS curve is line ______.
A. 1; 2; 4
B. 1; 2; 3
C. 2; 3; 4
D. 3; 2; 1
Economics