Economics Multiple Choice Questions
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If supply decreases along a given demand curve,
a. an excess quantity demanded will be created, increasing the equilibrium price and causing equilibrium quantity to fall
b. an excess quantity supplied will be created, lowering the equilibrium price and causing equilibrium quantity to rise
c. an excess quantity demanded will be created, raising the equilibrium price and quantity
d. an excess quantity supplied will be created, lowering the equilibrium price and quantity
e. price will fall, shifting the demand curve outward, raising the equilibrium quantity
Fiscal policy focuses on manipulating
a. aggregate demand to smooth out business fluctuations
b. aggregate supply to smooth out business fluctuations
c. both aggregate supply and aggregate demand to smooth out business fluctuations
d. aggregate demand to stimulate the economy and aggregate supply to contract it
e. short-run aggregate supply to stimulate the economy and aggregate demand to contract it
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If supply decreases along a given demand curve:
The price will go up and the quantity demanded will fall.
The result will ...
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- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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