Which of the Following Statements Is True

question 55

Multiple Choice

Which of the following statements is true?

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

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Definitions:

Standard of Proof

The level of certainty and the degree of evidence necessary to establish proof in a legal proceeding or trial.

Service of Process

The procedure by which a party to a lawsuit gives an appropriate notice of initial legal action to another party.

Deposition

A pretrial sworn and recorded testimony of a witness that is acquired out of court with no judge present.

Interrogatories

A set of formal written questions required to be answered under oath, used as a discovery tool in civil litigation to gather information from the opposing party.