A Simultaneous Decrease in Both the Supply of and the Demand

question 156

True/False

A simultaneous decrease in both the supply of and the demand for silk boxer shorts would cause a decrease in the equilibrium quantity of silk boxer shorts.

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Definitions:

Corporation Income Statement

A financial statement that outlines the revenues, expenses, and profits or losses of a corporation over a specific period of time.

Cash Dividend Liability

An obligation for a corporation to pay shareholders a declared dividend in cash.

Date of Record

The specific date set by a corporation upon which the company determines the shareholders eligible to receive a dividend or distribution.

Income Tax Expense

The cost of income taxes a company must pay, reported in the income statement as part of its expenses.