INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 31

Short Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
The average age of the American population is [ decreasing | increasing ].

Identify the effects of economic conditions (e.g., income changes, production cost changes) on market equilibrium.

Analyze the impact of external factors (e.g., diets, technological advances) on demand or supply.

Predict market outcomes when both supply and demand are affected simultaneously.

Distinguish between movements along the curve and shifts of the curve in supply and demand analysis.

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Definitions:

Petty Offense

In criminal law, the least serious kind of wrong, such as a traffic or building code violation.

U.S. Congress

The bicameral legislative body of the United States federal government, consisting of two chambers: the Senate and the House of Representatives.

Federal Crimes

Illegal acts that violate the laws of the federal government of a country, as opposed to state or local laws.

Misdemeanor

A criminal offense considered less serious than a felony, typically punishable by fines, community service, or short-term imprisonment.