At a quantity above the equilibrium quantity, which of the following does not exist?
a. deadweight loss
b. underproduction
c. overproduction
d. inefficient production
b
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If a nation has no absolute advantage, then it
A) cannot gain from trade. B) still gains from trade. C) can only gain from trade if it raises its productivity levels. D) can only gain from trade if it reduces wages paid. E) can only gain from trade if it produces outside its production possibilities curve.
The classical economists believed that if the quantity of money doubled
A) output would double. B) prices would fall. C) prices would double. D) prices would remain constant.
Which of the following is the lowest rating given to an investment-grade bond by Moody's?
A) Aa B) A C) Baa D) B
People have less incentive to invest the more concerned they are that their investment will not be
a. appropriated by government b. stolen by thieves c. protected from high tax rates d. destroyed by civil unrest e. blown up by terrorists