The Equilibrium Quantity Will Decrease and the Price Might Rise

question 126

Multiple Choice

The equilibrium quantity will decrease and the price might rise, fall or stay the same when the

• A) demand for a good increases and the supply of it decreases.
• B) demand and the supply of a good both increase.
• C) demand and the supply of a good both decrease.
• D) demand for a good decreases and the supply of it increases.

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Definitions:

Administration

The process or activity of running a business or organization, including the management of operations and decision-making.

Test Norms

Statistical standards that describe the distribution of scores obtained by a specific group of test takers, which serve as a reference point to interpret individual scores.

Test Reliability

The degree to which an assessment tool produces stable and consistent results.

Test Outcome Data

Quantitative or qualitative information resulting from the administration of tests, used to measure performance, ability, or aptitude.