A decrease in supply will cause

a. an increase in demand.
b. a decrease in demand.
c. an increase in quantity demanded.
d. a decrease in quantity demanded.
e. a decrease in equilibrium price.

D

Economics

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The smaller the extent of job rationing, the

A) higher the labor supply. B) lower the labor force participation rate. C) lower potential GDP. D) higher the real wage rate. E) lower the unemployment rate.

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The typical monopolistically competitive firm always earns an economic profit in the long run, regardless of whether or not it advertises

a. True b. False

Economics