When Both Supply and Demand Decrease,the Equilibrium Price

question 60

Multiple Choice

When both supply and demand decrease,the equilibrium price:

• A) increases and equilibrium quantity increases.
• B) is indeterminate and equilibrium quantity increases.
• C) decreases and equilibrium quantity is indeterminate.
• D) increases and equilibrium quantity is indeterminate.
• E) is indeterminate and equilibrium quantity decreases.

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Definitions:

Digital Money

Electronic alternatives to traditional paper money, such as cryptocurrencies or digital currencies, used for transactions over digital platforms.

Medium of Exchange

An intermediary instrument or system used to facilitate the sale, purchase, or trade of goods between parties.

Digital Wallet

A digital system that allows individuals to make electronic transactions using a computer or smartphone, including storing various forms of currency and cards.

Public Keys

Part of a cryptographic system used in digital communication that allows users to securely exchange data over an insecure network.