The price of a currency will decrease when quantity demanded is less than quantity supplied
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
An economy produces only 500,000 tables valued at $100 each. Of these, 100,000 are sold to consumers, 200,000 are sold to businesses, 100,000 are sold to the government, and 50,000 are sold abroad. No tables are imported. At the end of the year, the table manufacturers hold the unsold tables in inventory. What is the value of the investment component of GDP?
A. $25 million B. $2 billion C. $10 million D. $20 million
When a nation exports a good or service, the nation's consumer surplus ________, its producer surplus ________, and its total surplus ________
A) increases; decreases; increases B) increases; decreases; decreases C) increases; increases; increases D) decreases; decreases; decreases E) decreases; increases; increases
Relative to the social optimum, monopoly power tends to lead to
A) underproduction. B) overproduction. C) too much leisure. D) too little leisure.
In reality, the profit-maximization rule to set marginal revenue equal to marginal cost, is a(n) ________ rather than a(n) ________.
A) operational rule; target B) obtainable goal; operational rule C) operational rule; goal D) target; operational rule