Use the Following to Answer Questions

question 213

Multiple Choice

Use the following to answer questions .
Exhibit: Simultaneous Shifts in Demand and Supply
-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves. In this market for a normal good:

• A) supply has increased and price has increased.
• B) demand has increased and price has increased.
• C) demand has decreased and price has fallen.
• D) demand has increased and price has fallen.

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Definitions:

Magnetic Disks

Data storage devices that use magnetic storage to record and retrieve digital information using one or more rotating disks coated with magnetic material.

RAM

Random Access Memory, a type of computer memory that is used to store data temporarily, making it faster to access than disk memory.

ROM

Read-Only Memory, a type of non-volatile storage medium that is used primarily in computers and electronic devices to store firmware or software that is rarely changed.

Primary Storage

The main storage area in a computer system, typically RAM, where the operating system, application programs, and data in current use are kept so they can be quickly reached by the computer's processor.