The Following Questions Refer to the Graph Below

question 57

Multiple Choice

The Following Questions Refer to the graph below.
-Which of the following statements is incorrect?

• A)If supply decreases and demand remains constant,equilibrium price will rise
• B)If demand decreases and supply increases,equilibrium price will rise
• C)If supply increases and demand decreases,equilibrium price will fall
• D)If demand increases and supply decreases,equilibrium price will rise
• E)If supply is constant and demand increases,price will rise

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Definitions:

Synectics

A problem-solving methodology that stimulates thought processes of which the participants are usually unaware, often used in group settings to foster creativity.

Creative Thinking

The ability to think outside the box and generate innovative ideas or solutions to problems.

Triggering

The process of initiating a response, reaction, or series of events, especially when relating to psychological reactions to stimuli.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone by having members write down their ideas and then discuss them collectively.