If Technological Advances Lower the Cost of Computer Chips, in the Market

question 359

Multiple Choice

If technological advances lower the cost of computer chips, in the market for computers the equilibrium price will ________ and the equilibrium quantity will ________.

• A) fall; increase
• B) fall; decrease
• C) rise; increase
• D) rise; decrease

---

Definitions:

Proslavery

A stance or ideology that advocates for or supports the practice of slavery, justifying it on economic, moral, or social grounds.

Anti-Slavery

Opposition to the practice of slavery and the slave trade, advocating for the abolition of slavery and the emancipation of enslaved people.

Secretary of War Henry Knox

A leading military officer of the Continental Army during the American Revolution who later served as the first United States Secretary of War under President George Washington.

U.S. Policy

Refers to the overarching strategies and stances that the United States government adopts towards domestic and international issues.