Multiple Choice
The theory underlying demand and supply curves assumes that, all other things unchanged, the primary variable that assures the equality of the quantities demanded and supplied is:
A) consumer income.
B) the preferences of consumers.
C) the expectations of consumers and producers.
D) price.
Correct Answer:

Verified
Correct Answer:
Verified
Q47: Two goods are substitutes if:<br>A) an increase
Q48: Price changes for complements and substitutes have
Q49: Economists know that a particular good can
Q50: There is equilibrium in the market when:<br>A)
Q51: Use the following to answer question(s): Simultaneous
Q53: If demand and supply both decrease:<br>A) both
Q54: Consumer preferences, prices of related goods, income,
Q55: A shortage occurs at any price above
Q56: A decrease in supply is caused by:<br>A)
Q57: Use the following to answer question(s): Shifts