If the Supply and Demand Curves for a Product Both

question 209

Multiple Choice

If the supply and demand curves for a product both decrease, then equilibrium

• A) quantity must fall and equilibrium price must rise.
• B) price must fall, but equilibrium quantity may rise, fall, or remain unchanged.
• C) quantity must decline, but equilibrium price may rise, fall, or remain unchanged.
• D) quantity and equilibrium price must both decline.

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Definitions:

Basic Traits

Fundamental personality characteristics that are thought to be universal and relatively stable over time.

Factor Analytic

A statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors.

Big Five

An approach that defines personality in humans by five primary factors: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Lexical Hypothesis

Traits important for survival and reproduction are embedded in our language, with the most important traits represented by the largest number of words.