Which of the Following Statements Is True

question 178

Multiple Choice

Which of the following statements is true?

• A)An increase in demand causes a change in equilibrium price; the change in price does not cause a further change in demand or supply.
• B)A decrease in supply causes equilibrium price to rise; the increase in price then results in a decrease in demand.
• C)If both demand and supply increase there must be an increase in equilibrium price; equilibrium quantity may either increase or decrease.
• D)If demand decreases and supply increases one cannot determine if equilibrium price will increase or decrease without knowing which change is greater.

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Definitions:

African Slave Labor

The forcible employment of African people, primarily in the Americas, from the 16th to the 19th centuries, under conditions of slavery.

Plantation Labor

Work associated with the operation of large agricultural estates, often involving the cultivation of crops like cotton, sugar, and tobacco, historically reliant on slave or indentured labor.

Rice Cultivation

The agricultural process of growing rice as a crop, significant in many parts of the world for food production and economic activity.

South Carolina

A state in the southeastern region of the United States, known for its role in the American Civil War and as a site of significant historical events and cultural heritage.