If the Demand for a Product Falls and the Supply

question 331

Multiple Choice

If the demand for a product falls and the supply stays the same

• A) the market clearing price will fall and the equilibrium quantity will rise.
• B) the market clearing price will rise and the equilibrium quantity will fall.
• C) both the market clearing price and the equilibrium quantity will fall.
• D) both the market clearing price and the equilibrium quantity will rise.

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Definitions:

Employee Representation

The act of employees selecting individuals or organizations to act on their behalf in discussions and negotiations with employers.

Squelch Real Employee Voice

To suppress or silence genuine concerns and feedback from employees, often in organizational contexts.

Kaiser Permanente

An American integrated managed care consortium, which provides health care services and health plans.

Labor-Management Partnership

Cooperative working relationships between labor unions and management teams aimed at improving organizational performance, addressing workplace issues, and benefiting both employees and employers.