A decrease in the supply of chocolate chips would usually result in a
a. higher equilibrium price and a lower equilibrium quantity
b. lower equilibrium price and a lower equilibrium quantity
c. lower equilibrium price and a higher equilibrium quantity
d. higher equilibrium price and a higher equilibrium quantity
e. decrease in the demand for chocolate chips
A
Economics
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How can the Federal Reserve actually increase the money supply?
A) by delaying transfer of money among banks B) by purchasing more government bonds in the open market C) by doubling the reserve requirement D) by raising the discount rate
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________ is the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors
A) Autarky B) Absolute advantage C) Comparative advantage D) Specialization
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