Which of the following statements is CORRECT?

A) When demand increases, both the price and the quantity increase.
B) When demand decreases, the price rises and the quantity decreases.
C) When supply increases, the quantity decreases and the price rises.
D) When supply decreases, both the price and the quantity decrease.

A

Economics

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Private markets are most likely to produce goods that are

a. neither rival nor excludable b. rival, but not excludable c. socially desirable, regardless of whether they are rival or not d. both rival and excludable e. rival, but not profitable

Economics

The term time inconsistency is used to describe:

A. a situation in which we regret choices we make simply because of when we made the choice. B. a situation in which we change our minds about what we want simply because of the timing of the decision. C. people's inability to correctly predict how their current choices will affect them in the future. D. people's inability to make choices today that determine their actions in the future.

Economics