If the quantity of textbooks supplied is 10,000 per year and the quantity of textbooks demanded is 8,000 per year, there is a ________ in the market and the price will ________
A) shortage; rise
B) shortage; fall
C) surplus; rise
D) surplus; fall
D
You might also like to view...
Which of the following statements most accurately describes the task of bank asset management?
A) Banks seek the highest returns possible subject to minimizing risk and making adequate provisions for liquidity. B) Banks seek to have the highest liquidity possible subject to earning a positive rate of return on their operations. C) Banks seek to prevent bank failure at all cost; since a failed bank earns no profit, liquidity needs supersede the desire for profits. D) Banks seek to acquire funds in the least costly way.
Consider Larry's decision to go to college. If he goes to college, he will spend a total of $120,000 on tuition, $30,000 on room and board, and $3,500 on books over four years. If he does not go to college, he will earn $30,000 annually working in a store and spend $7,000 on room and board each year. Larry's cost of going to college is
a. $123,500. b. $153,500. c. $190,500 d. $245,500
As the Federal Reserve ________ bonds, interest rates fall and the price of bonds ________
A) sells; rises B) buys; rises C) sells; falls D) buys; falls
What is the national income identity for an open economy?
What will be an ideal response?