What Will Happen If Both the Demand for and Supply

question 22

Multiple Choice

What will happen if both the demand for and supply of a product increase simultaneously?

• A)The effect on the price is indeterminate.
• B)The price will increase.
• C)The price will decrease.
• D)The effect on quantity traded is indeterminate.

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Definitions:

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing specific freedoms and rights to American citizens.

Commerce Clause

A provision in the U.S. Constitution granting Congress the power to regulate trade between states and with foreign nations.

Interstate Commerce

Commercial transactions or movement of goods and services across state borders, regulated by federal law in the United States.

Judicial Review

The power of courts to assess the constitutionality of laws or government actions.