Assume that supply decreases slightly and demand decreases greatly. Which of the following will happen?
a. Equilibrium price will fall and equilibrium quantity will rise.
b. Equilibrium price will rise and equilibrium quantity will fall.
c. Equilibrium price will rise and equilibrium quantity will rise.
d. Equilibrium price will fall and equilibrium quantity will fall.
e. Neither equilibrium price nor equilibrium quantity will change.
D
Economics
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According to the 2007/2008 United Nations Human Development Report, the Gini ratio for Portugal is 38.5, Norway is 25.8, the United States is 40.8, and Russia is 39.9. Which of these four countries has the highest level of income equality?
A) Portugal B) United States C) Norway D) Russia
Economics
A change in consumer taste will prompt a change in _____.
Fill in the blank(s) with the appropriate word(s).
Economics