Which of the following would cause a decrease in the equilibrium price and decrease in the equilibrium quantity of papayas?
A) a decrease in supply and an increase in demand
B) a decrease in demand
C) an increase in supply and an increase in demand greater than the increase in supply
D) a decrease in supply and a decrease in demand
Answer: B
Economics
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Refer to the table above. What is the shortage in the market when the price of a notebook is $3?
A) 4 units B) 10 units C) 16 units D) 20 units
Economics
Refer to Figure 27-10. In the graph above, suppose the economy in Year 1 is at point A and is expected in Year 2 to be at point B. Which of the following policies could Congress and the president use to move the economy to point C?
A) buy Treasury bills B) increase income taxes C) increase government spending D) decrease the discount rate
Economics