The government expenditure multiplier is the magnification effect of a change in government expenditure on

Tickets to the Indiana-Purdue basketball game are usually sold out far in advance of game day and many people are disappointed because they cannot see the game. This suggests

a. the price of the tickets must be higher than the equilibrium price because people consider them valuable b. the price is set below the equilibrium level c. the price is set above the equilibrium level d. there is no excess demand or supply e. the people deciding on what price to charge considered only the fixed capacity of the stadium

According to the law of demand, if

a. price increases, quantity demanded decreases b. people's income increases, quantity demanded increases c. price increases, quantity demanded increases d. people's income increases, quantity demanded decreases e. demand increases, supply will increase