When Equilibrium Is Present, If Market Conditions Do Not Change

question 156

Multiple Choice

When equilibrium is present, if market conditions do not change,

• A) the current price will tend to rise in the future, and the current quantity will tend to fall.
• B) the current price will tend to fall in the future, and the current quantity will tend to rise.
• C) the current price and quantity will tend to persist in the future.
• D) the current price will tend to persist in the future, but the current quantity will tend to rise.

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Definitions:

Model Airplane

A scaled-down replica of an aircraft, used for display, hobby building, or flying competitions.

Do-it-yourself

A term referring to the practice of building, repairing, or making things oneself, rather than hiring a professional or buying ready-made products.

Static Reasoning

A way of thinking in which individuals assume that the world is unchanging and what is true now will always be true.

Preoperational Thought

A stage in Piaget's theory of cognitive development where children from about 2 to 7 years of age are able to use symbols and language but do not yet understand concrete logic.