Exhibit 3-11 Demand and Supply Curves

question 64

Multiple Choice

Exhibit 3-11 Demand and supply curves

-In Exhibit 3-11,in Panel B the movement from A to C describes a(n) :

• A) increase in demand and a decrease in supply, where the increase in demand is relatively bigger.
• B) decrease in both demand and supply, where the decrease in supply is relatively bigger.
• C) increase in demand and a decrease in supply, where the decrease in supply is relatively bigger.
• D) decrease in demand and increase in supply, where the increase in supply is relatively bigger.
• E) increase in both demand and supply, where the increase in supply is relatively bigger.

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Definitions:

Contributory Negligence

Contributory negligence is a legal concept that can reduce or eliminate the plaintiff's right to recover damages if it is found that the plaintiff's own negligence contributed to the harm suffered.

Actual Damages

A sum of money equal to the real financial loss suffered by an injured party. Also called compensatory damages.

Damages

A monetary compensation awarded by a court to a person who has suffered loss or harm due to the unlawful act or negligence of another.

Malicious Prosecution

The act of initiating a legal action with the intent to harass or to unjustly harm another party.