Assuming That the Demand and Supply of a Good Have

question 1

Multiple Choice

Assuming that the demand and supply of a good have moved in the same direction, and 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)no change in price, and an indeterminate change in quantity exchanged.

---

Definitions:

Stanford Achievement Test

A standardized test that assesses the academic knowledge of students in grades K through 12 across a variety of subjects.

Mental Test

An evaluation designed to measure cognitive, emotional, or psychological aspects of an individual's mental functionality.

Psychological Laboratories

Facilities dedicated to conducting research and experiments in cognitive, social, developmental, and other areas of psychology.

Army Alpha

A historical standardized test developed during World War I to assess the intellectual and cognitive abilities of military recruits.