If Demand Increases and Supply Decreases

question 69

Multiple Choice

If demand increases and supply decreases,

• A)equilibrium price will fall and equilibrium quantity will rise
• B)equilibrium price and quantity will both rise
• C)equilibrium quantity will rise; equilibrium price will either rise or fall
• D)equilibrium price will fall; equilibrium quantity will either rise or fall
• E)equilibrium price will rise; equilibrium quantity will either rise, fall, or remain unchanged

---

Definitions:

Free Blacks

African Americans who were not enslaved, living freely in the United States especially before and during the Civil War, often facing legal and social restrictions.

Skilled Laborers

Workers who have specialized training or expertise in a particular trade or job, often requiring specific qualifications.

Multiracial Populations

Communities or societies composed of individuals from two or more racial backgrounds, often leading to diverse cultural and social experiences.

Recognized Class

A social or economic group that is acknowledged and identified by society or by certain legal or political systems for specific purposes.