If Market Supply Increases

question 61

Multiple Choice

If market supply increases:

• A) equilibrium price and quantity will both increase.
• B) equilibrium price and quantity will both decrease.
• C) equilibrium price will increase but equilibrium quantity will decrease.
• D) equilibrium price will decrease but equilibrium quantity will increase.

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Definitions:

Republican Party

A major political party in the United States, also known as the GOP (Grand Old Party), with a conservative ideology focusing on limited government, free markets, and traditional values.

New Freedom

A term used to describe the domestic policy agenda of U.S. President Woodrow Wilson, which aimed at achieving economic reform by dismantling monopolies and restoring competition in the marketplace.

New Nationalism

A political ideology and reform proposal advocated by Theodore Roosevelt during the early 20th century, promoting a strong federal government to regulate the economy and address social issues.

Woodrow Wilson

The 28th President of the United States, serving from 1913 to 1921, known for his progressive reforms and leadership during World War I.