In Response to Some Unexpected Changes in Demand

question 47

Multiple Choice

In response to some unexpected changes in demand:

• A)the economy could always adjust its production level if the prices are inflexible.
• B)the economy would always produce less than what was expected if the prices of goods and services are inflexible.
• C)the economy could always produce at its optimal capacity if the prices of goods and services are inflexible.
• D)the economy could always produce at its optimal capacity if the prices of goods and services are fully flexible.

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Definitions:

Bisexual

A sexual orientation wherein an individual is attracted to both men and women.

Concurrent Relationships

Engaging in multiple romantic or sexual relationships at the same time, with the consent or knowledge of all parties not necessarily presumed.

Value Judgments

Evaluations or assessments based on one's personal or cultural beliefs, values, and standards.

Truth

The quality or state of being in accord with fact or reality, often sought after in various contexts such as moral, philosophical, or scientific inquiries.