In the Following Question You Are Asked to Determine, Other

question 118

Multiple Choice

In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S)
Of, X; (2) the equilibrium price (P) of X; and (3) the equilibrium quantity (Q) of X.
An improvement in the technology used to produce X will

• A) decrease S, increase P, and decrease Q.
• B) decrease S, increase P, and increase Q.
• C) increase S, decrease P, and increase Q.
• D) decrease D, decrease P, and decrease Q.

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Definitions:

Protective Tariff

A tariff imposed on imports to protect domestic industries from foreign competition by increasing the cost of imported goods.

Internal Improvements

Government-funded public works, such as roads, bridges, and canals, aimed at improving the infrastructure and economic development of a nation.

Younger Federalists

Members of a younger generation within the Federalist Party, which was a first American political party advocating for a strong national government.