Equilibrium Price Must Increase When Demand

question 78

Multiple Choice

Equilibrium price must increase when demand

• A)increases and supply does not change,when demand does not change and supply decreases,and when demand decreases and supply increases simultaneously.
• B)increases and supply does not change,when demand does not change and supply decreases,and when demand increases and supply decreases simultaneously.
• C)decreases and supply does not change,when demand does not change and supply increases,and when demand decreases and supply increases simultaneously.
• D)decreases and supply does not change,when demand does not change and supply increases,and when demand increases and supply decreases simultaneously.

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Definitions:

U.S. Dollar

The official currency of the United States of America, widely used for domestic and international transactions.

Japanese Yen

The official currency of Japan, which is one of the most traded currencies in the world.

Gold Standard

A monetary system where a country's currency or paper money has a value directly linked to gold, used historically by various nations.

Trade Deficit

A situation that occurs when a country's imports of goods and services exceed its exports, leading to a negative balance of trade.