A Simultaneous Increase in Both the Demand for Radios and the Supply

question 150

Multiple Choice

A simultaneous increase in both the demand for radios and the supply of radios would imply that

• A)both the value of radios to consumers and the cost of producing radios has increased.
• B)both the value of radios to consumers and the cost of producing radios has decreased.
• C)the value of radios to consumers has decreased and the cost of producing radios has increased.
• D)the value of radios to consumers has increased and the cost of producing radios has decreased.

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Definitions:

Public-Works Projects

Government-funded projects designed to create infrastructure benefiting the public, such as roads, bridges, and schools.

Direct Relief

A form of assistance given directly to needy individuals and families by government or charitable organizations, typically in the form of food, housing, or medical aid.

Industrial Wages

The payment or compensation given to workers in manufacturing, factories, and other sectors within the industrial part of the economy.

Economic Reality

Refers to the actual financial and economic condition of an entity or market, as opposed to what is theorized or planned.