If Both the Supply of and the Demand for a Good

question 29

Multiple Choice

If both the supply of and the demand for a good decrease simultaneously, but the decrease in supply is greater than the decrease in demand, then the equilibrium price _____ and equilibrium output _____.

• A) falls; falls
• B) may rise, fall, or stay the same; falls
• C) rises; falls
• D) may rise, fall, or stay the same; rises

---

Definitions:

Outgroup Members

Individuals who are not considered part of a specific group or community, often viewed as "them" in contrast to an "us."

Outgroup Homogeneity Bias

The perception that members of an outgroup are more similar to each other than they actually are, often contrasting with the perceived diversity within an ingroup.

Racial Discrimination

Prejudice, attitudes, or differential treatment toward people based on their race or ethnicity.

English Football

A term referring to the sport of soccer as it is played, followed, and organized within England, encompassing various leagues and competitions.