84) Suppose there is a decrease in supply in a market where the supply curve slopes upwards and the demand curve slopes downwards. Which of the following would not occur?

An excess supply

A fall in price

A fall in supply

A fall in the equilibrium level of expenditure

Answer is:

A fall in supply

An excess demand at the initial equilibrium price

An excess demand at the new equilibrium price

An excess supply at the initial equilibrium price

An excess supply at the new equilibrium price

Answer is:

An excess supply

A fall in price

A rise in the quantity traded

A fall in the equilibrium level of expenditure

Answer is:

A fall in the price of a complement

A rise in consumer incomes

An increase in the number of buyers

An expected rise in price

Answer is:

A decrease in the number of firms using the labour

An increase in the productivity of the labour

A fall in the price of a substitute input

A decrease in the demand for the produce or products which the labour is used to produce

Answer is: