Which of the following statements is correct?
A. If demand decreases and supply increases, equilibrium price will rise.
B. If demand increases and supply decreases, equilibrium price will fall.
C. If supply increases and demand decreases, equilibrium price will fall.
D. If supply decreases and demand remains constant, equilibrium price will fall.
Answer: C
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You are thinking about buying a house. You find one you like that costs $200,000 . You learn that your bank will give you a mortgage for $160,000 and that you would have to use all of your savings to make the down payment of $40,000
You calculate that the mortgage payments, property taxes, insurance, maintenance, and utilities would total $950 per month. Is $950 the cost of owning the house? What important factor(s) have you left out of your calculation of the cost of ownership?
As savings grow in an economy, economic growth rises
a. True b. False Indicate whether the statement is true or false