If the interest rate is below the equilibrium, which of the following occurs in this market?
a. excess supply
b. excess quantity supplied
c. excess demand
d. excess quantity demanded
c. excess demand
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Coffee Shower, Cloud Nine Coffee, and LoopCafe have each agreed to reduce their output in order to reduce total market supply and raise market price. This is an example of _____
a. a cartel b. a collusion c. a duopoly d. game theory
Suppose that the chain-weighted index for GDP in Gambia was 275 in 2015 and 350 in 2016. The inflation rate between those two years was approximately
A) 20.2 percent. B) 27.3 percent. C) 37.5 percent. D) 75 percent.
An example of peak pricing is charging
A. more for long-distance phone calls in the daytime. B. less for electricity at night. C. more for public transportation in rush hours. D. All of the above are true.
Countries that engage in trade will tend to specialize in the production of goods and services in which they have ________ and will ________ these goods and services
A) a comparative advantage; export B) a comparative advantage; import C) an absolute advantage; import D) an absolute advantage; export