Spending on programs that Congress authorizes ________ is known as discretionary spending

Suppose consumer preference for beef starts to rise while the cost of raising beef continues to rise. In the market for beef, this would be represented by the equilibrium price ________ and the equilibrium quantity ________

A) increasing; increasing or decreasing B) increasing or decreasing; increasing C) decreasing; increasing or decreasing D) increasing or decreasing; decreasing

Cost-reducing technological advancements allow suppliers to earn more profits but have no noticeable effect on the supply curve

a. True b. False Indicate whether the statement is true or false