If Supply Decreases Along a Given Demand Curve,______

question 95

Multiple Choice

If supply decreases along a given demand curve,______.

• A)there will be an excess quantity demanded in the market,resulting in an increase in the equilibrium price and a decrease in the equilibrium quantity
• B)there will be an excess quantity supplied in the market,resulting in a decrease in the equilibrium price and an increase in the equilibrium quantity
• C)there will be an excess quantity demanded in the market,resulting in an increase in both the equilibrium price and quantity
• D)there will be an excess quantity supplied in the market,resulting in a decrease in both the equilibrium price and quantity
• E)price will fall,shifting the demand curve outward and raising the equilibrium quantity

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Definitions:

Foreign Policy

A country's strategies and decisions in relation to its interactions with other nations, concerning diplomacy, military actions, trade, and treaties.

Civil Rights Initiatives

Programs, policies, or legislative actions aimed at ensuring and improving legal rights and social quality for all, particularly for marginalized groups.

American Sentiment

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Truman Administration

The period of U.S. presidency under Harry S. Truman, from 1945 to 1953, notable for its implementation of the Marshall Plan, the establishment of NATO, and the beginning of the Cold War.