Which of the following scenarios could cause the price of good or service to decrease? (Check all that apply.)
Which of the following scenarios could cause the price of good or service to decrease? (Check all that apply.)
decrease in demand; increase in supply
decrease in demand; no change in supply
no change in demand; increase in supply
increase in demand; no change in supply
no change in demand; decrease in supply
increase in demand; decrease in supply
increase in demand; increase in supply
decrease in demand; decrease in supply
Homework Answers
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Which of the following scenarios could cause the price of good or service to decrease? (Check all that apply.)
Which of the following scenarios would definitely cause the price of good or service to decrease? (Check all that apply.)
Which of the following scenarios would definitely cause the price of good or service to decrease? (Check all that apply.) decrease in demand; no change in supply no change in demand; decrease in supply increase in demand; decrease in supply no change in demand; increase in supply increase in demand; no change in supply increase in demand; increase in supply decrease in demand; decrease in supply decrease in demand; increase in supplySelect the best matches from the lists below.
Which of the following could cause a decrease in the budget surplus? Check all that apply....
Which of the following could cause a decrease in the budget surplus? Check all that apply. -Restrictive fiscal policy -Expansionary fiscal policy -An economic expansion -An economic recession True or False: Keynesian economists argue that the government can fight inflation by implementing restrictive fiscal policy. -False -True Keynesian theory stresses the importance of (expansionary policy, countercyclical policy, or restrictive policy) _______ to offset fluctuations in (aggregate demand, short run aggregate supply, or long run aggregate supply)__________.
Which of the following could cause a decrease in the supply of jelly?
Which of the following could cause a decrease in the supply of jelly? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. An increase in the price of jelly. An increase in the price of peanut butter. A decrease in the expected future price of jelly. A decrease in income, if jelly is an inferior good. An increase in the price of sugar, an input to jelly production.
Which of the following would be expected to cause a decrease in the quantity supplied of...
Which of the following would be expected to cause a decrease in the quantity supplied of a certain good? 6. a. b. c. d. A decrease in the cost of materials used in producing that good An increase in the cost of materials used in producing that good A decrease in the price of the good An increase in the price of the good Suppose that at a price of $70 the quantity supplied in a market is 10 units,...
Which of the following would cause an increase in the demand for good X (an inferior...
Which of the following would cause an increase in the demand for good X (an inferior good)? an increase in the price of good Y which is a complement to good X a decrease in the number of consumers an expectation of a lower price for good X a decrease in income a decrease in the price of good Z which is a substitute for good X In response the Covid-19 pandemic, many people want to purchase hand sanitizer. Simultaneously,...
Which of the following changes to the market in the graph shown could cause the price floor to become non-binding?
Which of the following changes to the market in the graph shown could cause the price floor to become non-binding?Multiple ChoiceSupply could decrease, and shift to the left.Supply could increase, and shift to the right.Demand could decrease, and shift to the left.Supply could increase, and shift to the left.
An increase in the price of a substitute good would cause:
QUESTIN 5 An increase in the price of a substitute good would cause: An increase in the demand of our good and the price would increase An increase in the supply of our good and the price would increase A decrease in the demand of our good and the price will increase A decrease in the supply of our good and the price will fall QUESTIN 6 If there is a freeze in Florida that destroys half of the orange crop there, what effect would that have...
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Food prices Which of the following affects food prices? (Check all that apply) Check All That...
Food prices Which of the following affects food prices? (Check all that apply) Check All That Apply Cost of land Weather ロロロロロ Machinery Supply and demand Supply and demand is a classical economics model that helps us to think about how demand for resources might change as its abundance changes. Drag the boxes that best complete the illustration. This is demand This is demand This is supply High A resource here is inexpensive This is supply Price A resource here...
Which of the following accurately explain the statement "People respond to incentives and disincentives" in relation...
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Which of the following would be expected to cause a decrease in the quantity supplied of a certain good? 6. a. b. c. d. A decrease in the cost of materials used in producing that good An increase in the cost of materials used in producing that good A decrease in the price of the good An increase in the price of the good Suppose that at a price of $70 the quantity supplied in a market is 10 units,...
A normal good is which of the following? A good in which the change in price is proportionately related to a change in demand. A good in which a change in income is inversely related to the change in demand. A good in which a change in price is inversely related to a change in demand. A good in which the change in income is proportionately related to a change in demand for that good. Two goods are said to...
Food prices Which of the following affects food prices? (Check all that apply) Check All That Apply Cost of land Weather ロロロロロ Machinery Supply and demand Supply and demand is a classical economics model that helps us to think about how demand for resources might change as its abundance changes. Drag the boxes that best complete the illustration. This is demand This is demand This is supply High A resource here is inexpensive This is supply Price A resource here...
Which of the following accurately explain the statement "People respond to incentives and disincentives" in relation to the demand curve and supply curve for good X? Check all that apply. If the government withdraws subsidies to the producers of good X, they will supply less of that good at any given price. ■ If the government subsidizes the producers of good X, they will supply less of that good at any given price. O A fall in the price of...
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