An increase in demand causes
a. a surplus
b. excess supply
c. an increase in supply
d. an increase in equilibrium price and equilibrium quantity
e. an improvement in technology
D
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If the current account balance has a $70 million deficit and there was no change in official reserves during that year, then we know that
A) net transfers were -$70 million. B) the capital account balance must have a $70 million deficit. C) the balance of payments must register a $70 million surplus. D) the official settlements account balance must have a $70 million surplus. E) the capital and financial account balance must have a $70 million surplus.
Which of the following is a correct statement about the labor market?
a. Workers determine the supply of labor, and firms determine the demand for labor. b. Workers determine the demand for labor, and firms determine the supply of labor. c. Workers determine the supply of labor, and government determines the demand for labor. d. The forces of supply and demand, while present in the labor market, have nothing to balance in that market.
All of the following apply to the description of a market in equilibrium except:
A. quantity supplied equals quantity demanded. B. the intersection of the supply and demand curves. C. no excess supply exists. D. the price of the good is falling.
Refer to the diagram. At output level Q total variable cost is:
A. 0BEQ.
B. BCDE.
C. 0CDQ.
D. 0AFQ.