When quantity supplied equals quantity demanded, there is:
a. disequilibrium
b. excess quantity supplied.
c. a market-clearing price (equilibrium price).
d. excess quantity demanded.
e. a shortage.
c
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Because the Federal Reserve System is a central bank, it provides banking services to
A) no one. B) consumers and business. C) commercial banks. D) the government only. E) businesses only.
Suppose each of the following rows represents the choice faced by policy makers given the current set of U.S. institutions and technology. What is the opportunity cost of reducing unemployment from 8 percent to 4 percent?UnemploymentInflation103846557410
A. 4 percentage points of unemployment B. 4 percentage points of inflation C. 6 percentage points of inflation D. 6 percentage points of unemployment
Which of the following is true about the price elasticity of demand on the top part of a linear demand curve?
a. Demand is inelastic. b. Demand is unitary elastic. c. It is impossible to tell. d. Demand is elastic.
Which of the following items does not provide a store of value?
a. All of the answers are correct. b. Credit cards c. Currency d. Checkable deposits