All other factors being constant, a reduction in price tends to ...

[jazziefee]

All other factors being constant, a reduction in price tends to cause which of the following?
 
  A) an increase in supply and an increase in demand
  B) a reduction in supply and an increase in demand
  C) an increase in quantity supplied and a reduction in quantity demanded
  D) a reduction in quantity supplied and an increase in quantity demanded

Question 2

A characteristic of a good model is that
 
  A) its predictions can be tested using real-world data.
  B) it is useful for making irrefutable predictions.
  C) it applies to all situations.
  D) it predicts perfectly.

[coyin]

Answer to Question 1

D

Answer to Question 2

A

[jazziefee]

YES! Correct, THANKS for helping me on my review

[nathang24]

Thanks for the timely response, appreciate it