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storchak [24]
3 years ago
9

If supply and demand both increase then equilibrium price will also increase. True or False

Business
1 answer:
lukranit [14]3 years ago
6 0

Answer:

This statement is false.

Explanation:

The change in the equilibrium price due to a change in in an increase in both demand and supply cannot be predicted without knowing the magnitude of the increase.

If the proportionate increase in the demand is greater than the increase in supply, the equilibrium price will increase.  

If the proportionate increase in the supply is greater than the increase in demand, the equilibrium price will decrease.  

If the increase in demand is proportionately equal to the increase in supply, the equilibrium price will remain the same.

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Answer:

it does not include the underground economy.

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Items not included in the calculation off GDP includes:

1. services not rendered to oneself

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4. sale or purchase of used products

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4 years ago
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Answer:

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Explanation:

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