Which of the Following Statements Is True

question 178

Multiple Choice

Which of the following statements is true?

• A)An increase in demand causes a change in equilibrium price; the change in price does not cause a further change in demand or supply.
• B)A decrease in supply causes equilibrium price to rise; the increase in price then results in a decrease in demand.
• C)If both demand and supply increase there must be an increase in equilibrium price; equilibrium quantity may either increase or decrease.
• D)If demand decreases and supply increases one cannot determine if equilibrium price will increase or decrease without knowing which change is greater.

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Definitions:

Emotional Stability

A personality trait characterized by consistency in emotional reactions and feelings, with a lower tendency towards mood swings.

Sociability

The quality or state of being sociable, or the propensity to engage in social interactions.

Self-Esteem

The subjective evaluation of one's own worth, encompassing beliefs and emotions such as pride and shame.

Mental Processes

Refers to internal, subjective experiences we infer from behavior, including thoughts, feelings, and perceptions.