When Demand Increases and Supply Decreases by the Same Amount,the

question 51

Multiple Choice

When demand increases and supply decreases by the same amount,the equilibrium quantity ________ and the equilibrium price ________.

• A) decreases; rises
• B) decreases; falls
• C) decreases; does not change
• D) decreases; might rise, fall, or not change
• E) does not change; might rise, fall, or not change

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Definitions:

Medical Care Insurance Premiums

The costs paid for insurance policies that cover medical and surgical expenses; these premiums are often deductible on individual tax returns if certain criteria are met.

Medical Expenses

Costs related to healthcare, including treatments, surgeries, and preventive services, which may be deductible under certain tax conditions.

Itemized Deductions

Specific expenses that taxpayers can claim to reduce their taxable income, as opposed to taking the standard deduction.

Charitable Contributions

Donations or gifts given by individuals or organizations to non-profit organizations, which can often be deducted from taxes.