Assuming That the Demand and Supply of a Good Have

question 188

Multiple Choice

Assuming that the demand and supply of a good have moved in opposite directions, but by the same amount, the new equilibrium would represent:

• A)an increase in price and an increase in quantity exchanged.
• B)no change in price and an increase in quantity exchanged.
• C)a decrease in price and a decrease in quantity exchanged.
• D)no change in price and a decrease in quantity exchanged.
• E)an indeterminate change in price, but no change in quantity exchanged.

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Definitions:

Sensory Images

Mental representations or impressions formed from the input of the five senses, enabling visualization or imagination of experiences.

Rehearse

The act of practicing or going over something repeatedly in preparation for a performance or event.

TOT States

"Tip of the Tongue" states, a phenomenon where a person cannot recall a specific word or term, though it feels within reach.

Sign Language

A visual language that uses hand shapes, facial expressions, and body movements to convey meaning, primarily used by deaf and hard-of-hearing individuals.