At an equilibrium price for gasoline,
A. everyone who is willing and able to purchase gasoline at that price can do so.
B. surpluses are inevitable.
C. market forces will eventually change the quantities demanded and supplied.
D. suppliers must be using the most efficient oil-drilling equipment available.
Answer: A
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Which of the following is not true about a special drawing right (SDR)?
a. The SDR is a composite currency. b. The value of the SDR is an average of the values of the currencies of major industrial countries. c. The SDR was created in 1980 by the World Bank. d. The SDR is an international reserve asset. e. The SDR is used to settle international debts.
Scarcity means
a. unlimited wants and unlimited available resources. b. unlimited wants and limited available resources. c. limited wants and limited available resources. d. limited wants and unlimited available resources.
Compared to their percentage shares in 1968, over the next 40 years, the percentage shares of each of the lowest four quintiles
A. rose substantially. B. rose somewhat. C. stayed about the same. D. declined.
Can ticket “scalping” be justified? Explain using economic analysis
Please provide the best answer for the statement.