A Simultaneous Increase in Demand and Decrease in Supply Would

question 39

Multiple Choice

A simultaneous increase in demand and decrease in supply would lead to:

• A) increase in the equilibrium price and a decrease in the quantity sold.
• B) increase in both the equilibrium price and the quantity sold.
• C) decrease in both the equilibrium price and the quantity sold.
• D) uncertain effect on the equilibrium quantity but an increase in the equilibrium price.

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Definitions:

Clifford Sifton

A Canadian politician known for his role in promoting immigration to settle the western provinces of Canada, significantly shaping the nation's demographic and agricultural expansion.

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Pollution that crosses national borders, affecting the global community and requiring international cooperation to manage.

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A term used to describe a situation of disagreement or dispute between two parties.