Buyers are able to buy all they want to buy and sellers are able to sell all they want to sell at
a. prices at and above the equilibrium price
b. prices at and below the equilibrium price.
c. prices above and below the equilibrium price, but not at the equilibrium price.
d. the equilibrium price but not above or below the equilibrium price.
d
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There exists a strong ________ correlation between GDP per capita and ________
A) positive; child labor B) negative; life expectancy C) negative; child labor D) positive; unemployment rate
Fast food restaurants produce a range of menu items such as hamburgers, chicken sandwiches, salads, and french fries. What fundamental economic question are they addressing by offering this range of items?
A) Why produce a variety of menu items? B) What to produce? C) Who to produce the menu items for? D) How to produce goods that consumers want?
A bank has no excess reserves and demand deposit liabilities of $100,000 when the required reserve ratio is 20 percent. If the reserve ratio is raised to 25 percent, the bank's excess reserves will now be
A) -$5,000. B) -$1,000. C) $1,000. D) $5,000.
Suppose there is a shortage of computer programmers, but firms refuse to hire unemployed typists and train them. This is one reason for ________ unemployment
A) turnover B) seasonal C) mismatch D) cyclical