Which of the Following Statements Is True

question 16

Multiple Choice

Which of the following statements is true?

• A)An increase in demand causes an increase in the equilibrium price; the increase in price causes supply to increase.
• B)A decrease in supply causes the 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 the equilibrium price; equilibrium quantity may either increase or decrease.
• D)If demand increases and supply decreases one cannot determine if the equilibrium price will increase or decrease without knowing which change is greater.

Understand the differences between nursing and medical histories in patient assessment.

Be familiar with the types of assessments required by the Joint Commission.

Recognize the importance of continuous observation and assessment in patient care.

Know the role of the Joint Commission regarding patient assessments.

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Definitions:

Free Trade

An economic policy that allows imports and exports between countries with minimal or no barriers to trade, such as tariffs or quotas, encouraging international commerce.

Imported

Brought into a country from abroad for the purpose of selling.

Net Welfare Loss

Describes the reduction in social welfare, often resulting from inefficiencies such as taxes, subsidies, tariffs, or monopolies, which distort market equilibrium.

Tariff

A tax imposed by a government on goods and services imported from other countries to protect domestic industries from foreign competition.