When price is above the equilibrium level, competitive price cutting will continue as long as quantity supplied exceeds quantity demanded.
Answer the following statement true (T) or false (F)
True
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The urban consumers that the CPI is based on includes:
A. institutionalized persons. B. persons in the military. C. incarcerated persons. D. the CPI does not include any of these.
Projecting that it might temporarily fall short of legally required reserves in the coming days, the Bank of Beano decides to borrow money from its regional Federal Reserve Bank. The interest rate on the loan is called the ________.
A. Treasury bill rate B. discount rate C. federal funds rate D. prime rate
Would it take longer for a labor market to move to a new equilibrium for house painters or architects? Why?
What will be an ideal response?
A disadvantage of the partnership form of business organization is
A. its limited liability. B. that it can issue only one class of stock. C. its limited access to capital. D. that the owners must fight a lot of red tape to form the firm.