Question

You read an article in a news magazine that explains how the economy expanded for several years, and then went into a period of contraction. What is the main subject of this article?
A. poverty
B. microeconomics
C. the business cycle
D. voluntary exchange

What happens to the equilibrium price when supply goes down?
A. The price goes up.
B. The price goes down.
C. The price stays the same.
D. The price goes up, and then goes down.

Answer 1

The best and most correct answer among the choices provided by the first question is the third choice or letter C "the business cycle."

On the other hand, the best and most correct answer among the choices provided by the second question is the first choice or letter A " The price goes up. "
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