1. If Rob would like to purchase a new plasma TV but cannot afford to purchase it, then he does not have a demand for the plasma TV. A. True B. False   2. If the supply and demand for a product both decrease then equilirium A. quantity and equilibrium price must both decline. B. quantity and equilibrium price must both increase. C. price must fall, but equilibrium quantity may either rise, fall, or remain unchanged. D. quantity must decline, but equilibrium price may either rise, fall, or remain unchanged. E. quantity must fall and equilibrium price must rise

A decrease in demand will cause a decrease in the equilibrium quantity and the equilibrium price. a. True b. False

Question 10

6. What is true of both an increase in demand and an increase in quantity demanded? a. They both involve a shift of the demand curve to the right. b. They are impacted by a change in the price of the good. c. They both involve a change in the willingness or ability to buy. d. They both involve a movement down along a fixed demand curve.