If There Is a Decrease in Both the Supply and Demand

question 293

Multiple Choice

If there is a decrease in both the supply and demand for a good, which of the following will definitely occur?

• A) The price of the good will increase.
• B) The price of the good will decrease.
• C) The equilibrium quantity will increase.
• D) The equilibrium quantity will decrease.

---

Definitions:

Felony

A crime—such as arson, murder, assault, or robbery—that carries the most severe sanctions. Sanctions range from one year in a state or federal prison to the death penalty.

Felony

A serious crime, typically involving violence, punishable by imprisonment for more than one year or by death.

Pay Child Support

The legal obligation of a non-custodial parent to contribute financially to the upbringing of their children.

Murder

The unlawful taking of someone's life with premeditation or malice aforethought, considered one of the gravest criminal offenses.