Which of the Following Statements Is True

question 123

Multiple Choice

Which of the following statements is true?

• A)A decrease in demand causes a decrease in equilibrium price;the decrease in price causes supply to decrease.
• B)A decrease in demand causes equilibrium price to fall;the decrease in price then results in a decrease in quantity supplied.
• 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:

Schedule Variance

A project management metric that compares the amount of work performed against the work scheduled.

Earned Value

Earned Value is a project management technique that measures project performance and progress using scope, schedule, and cost measurements.

Planned Value

An estimate of the expected monetary value of the work scheduled to be performed on a project at any given time.

Cost Variance

A measure of the cost performance of a project, calculated by the difference between the budgeted and actual expenses.