Which of the Following Would Increase in Response to a Decrease

question 131

Multiple Choice

Which of the following would increase in response to a decrease in the price of ironing boards?

• A)the quantity of irons demanded at each possible price of irons
• B)the equilibrium quantity of irons
• C)the equilibrium price of irons
• D)All of the above are correct.

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Definitions:

Payor Bank

A bank that is responsible for paying a check or draft drawn upon it by its customer.

Certified Checks

Checks guaranteed by a bank, verifying that there is sufficient funds available in the issuer's account to cover the check.

Teller's Checks

A bank-issued check drawn on the bank's own funds and signed by a teller, typically used when someone needs to guarantee payment.

Refuse

To decline to accept or to reject.