In which of the following situations will market clearing price increase and the equilibrium quantity decrease?
A) an increase in demand with no change in supply
B) an increase in supply with no change in demand
C) a decrease in supply with no change in demand
D) a decrease in demand with no change in supply
C
Economics
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Which of the following statements best describes a normal good?
A) A normal good is a good that is rationed by the government. B) A normal good is a good that is readily available in the market. C) A normal good is a good whose supply increases as its price decreases. D) A normal good is a good whose demand increases with an increase in consumers' income.
Economics
If aggregate demand curve shifts from AD2 to AD1, the full multiplier effect on real GDP will be a decrease from:
Refer to the figure above.
A. Q3 to Q1
B. Q2 to Q4
C. Q2 to Q1
D. Q3 to Q4
Economics