If Both the Demand and the Supply Curves Shift to the Left

question 168

True/False

If both the demand and the supply curves shift to the left the equilibrium quantity will fall, but the effect on equilibrium price is ambiguous without more information.

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Definitions:

Positive Statement

A statement that confirms, affirms, or expresses a positive attitude or outcome.

Hidden Negatives

Subtle or disguised expressions of refusal or disapproval.

Negative

Characterized by the absence of positivity, often involving criticism or undesirable outcomes.

Arrogant

Having or revealing an exaggerated sense of one's own importance or abilities.