Suppose That Demand for a Good Increases And, at the Same

question 54

Multiple Choice

Suppose that demand for a good increases and, at the same time, supply of the good decreases. What would happen in the market for the good?

• A)Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous.
• B)Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous.
• C)Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.
• D)Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

Understand the causes of earthquakes and their association with different types of faults.

Identify the relationship between earthquake depth and fault types.

Recognize the significance of seismic waves in detecting earthquakes.

Distinguish the effects of plate tectonics on earthquake generation.

---

Definitions:

Rents

Payments made to the owner of a property (such as land, buildings, or apartments) for the use of that property.

Sub-prime Lending

The practice of making loans to borrowers who are considered to be at higher risk of default, typically due to having a poor credit history.

Payday Lenders

Financial institutions that provide high-interest, short-term loans to individuals typically due on the borrower's next payday.

Military Financial Network

Refers to the interconnected systems, services, and resources that manage and support the financial aspects of a nation's military operations, including pay, budgeting, and procurement.