You Are Asked to Determine,other Things Equal,the Effects of a Given

question 142

Multiple Choice

You are asked to determine,other things equal,the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for,or supply (S) of,X, (2) the equilibrium price (P) of X and (3) the equilibrium quantity (Q) of X.
-Refer to the above.An increase in the price of a product which is a complement (in consumption) to X will:

• A) decrease S,decrease P,and decrease Q.
• B) increase D,increase P,and increase Q.
• C) decrease D,decrease P,and decrease Q.
• D) increase D,increase P,and decrease Q.

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Definitions:

End of the Cold War

The period from the late 1980s through the early 1990s marked by a thaw in relations between the Soviet Union and the United States, leading to the eventual dissolution of the Soviet Union in 1991.

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The last leader of the Soviet Union, known for his reforms (Perestroika and Glasnost) which aimed to modernize the Soviet economy and society.

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A region consisting of the Caribbean Sea, its islands, and the surrounding coasts, known for its diverse culture and tropical climate.