If demand increases and supply decreases
A) the market clearing price definitely will increase, and the equilibrium quantity definitely will increase.
B) the market clearing price definitely will increase, and the equilibrium quantity definitely will decrease.
C) the market clearing price definitely will increase, but the change in the equilibrium quantity cannot be determined without more information.
D) the equilibrium quantity definitely will decrease, but the change in the market clearing price cannot be determined without more information.
Answer: C
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The rule of reason was an antitrust law guideline that emphasized the importance of ____ over ____.
A. price; quantity B. quantity; price C. behavior; size D. size; behavior
Assuming the total population is 100 million, the civilian labor force is 50 million, and 47 million workers are employed, the unemployment rate is
A. 3%. B. 7%. C. 53%. D. 6%.