If Demand Increases and Supply Decreases,then the

question 30

Multiple Choice

If demand increases and supply decreases,then the

• A)equilibrium quantity increases but the effect on the equilibrium price is unknown.
• B)equilibrium quantity decreases but the effect on the equilibrium price is unknown.
• C)equilibrium price falls but the effect on the equilibrium quantity is unknown.
• D)equilibrium price rises but the effect on the equilibrium quantity is unknown.
• E)effect on both equilibrium price and quantity is unknown.

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Definitions:

Government Leaders

Individuals holding positions of authority in the government, responsible for making and implementing public policies.

Economic Status

The position of an individual, household, or group within the economic hierarchy, often assessed by income, wealth, and access to resources and opportunities.

Multilateral Transfer

The transfer of resources (financial, goods, services) between multiple countries or parties without direct reciprocation.

Developing Country

A nation with a lower level of industrialization, a lower standard of living, and a lower Human Development Index (HDI) compared to developed countries.