Without More Information,the Supply and Demand Model Cannot Predict the Effect

question 41

Multiple Choice

Without more information,the supply and demand model cannot predict the effect on price of:

• A) a simultaneous decrease in quantity demanded and increase in quantity supplied.
• B) a simultaneous decrease in demand and increase in supply.
• C) a simultaneous increase in demand and increase in supply.
• D) a simultaneous increase in demand and decrease in supply.

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Definitions:

Norris-LaGuardia Act

A 1932 U.S. federal law that restricted the power of federal courts to issue injunctions against nonviolent labor disputes.

Landrum-Griffin

A law, officially known as the Labor-Management Reporting and Disclosure Act of 1959, aimed at regulating labor unions' internal affairs and their officials.

Taft-Hartley

Refers to the Taft-Hartley Act, a 1947 federal law that restricts the activities and power of labor unions in the United States.

Wagner Act

A foundational statute in United States labor law that protects the rights of workers to form unions and engage in collective bargaining.