Author Question: The higher the rate of inflation in Cuba, the greater the probability that Cuban residents will ... (Read 88 times)

mrsjacobs44 · **on:** Jun 30, 2018

The higher the rate of inflation in Cuba, the greater the probability that Cuban residents will substitute U.S. currency for Cuban currency.
a. True
b. False
Indicate whether the statement is true or false

Question 2

A simultaneous increase in demand and decrease in supply would lead to:
a. An increase in the equilibrium price and a decrease in the quantity sold.
b. An increase in both the equilibrium price and the quantity sold.
c. A decrease in both the equilibrium price and the quantity sold.
d. An uncertain effect on the equilibrium quantity but an increase in the equilibrium price.