Which Statement Is Not Correct

question 66

Multiple Choice

Which statement is not correct?

• A)If demand increases and supply decreases, price will rise and the quantity exchanged may either rise or fall.
• B)If supply increases and demand decreases, price will fall and the quantity exchanged may either rise or fall.
• C)If supply declines and demand remains constant, price will rise and the quantity exchanged will rise.
• D)If demand and supply increase, the quantity exchanged will rise and price may either rise or fall.

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Definitions:

Right-to-Work Laws

Statutes that provide workers with the choice to join or support a labor union without facing mandatory membership as a condition of employment.

Voluntarism

A philosophy or principle that promotes voluntary actions or services rather than those compelled by law.

Communism

A political and economic ideology advocating for the common ownership of the means of production and the absence of social classes, money, and the state.

Socialism

A political and economic ideology advocating for collective or governmental ownership and administration of the means of production and distribution of goods.