Today, no country fixes its currency to gold.

Frictional unemployment is often thought to explain relatively long spells of unemployment

a. True b. False Indicate whether the statement is true or false

A decrease in the equilibrium price for a product will result

A) when the quantity demanded for the product exceeds the quantity supplied. B) when there is a decrease in supply and a decrease in demand for the product. C) when there is an increase in supply and a decrease in demand for the product. D) when there is a decrease in demand and a decrease in the number of firms producing the product.