A surplus of cardboard boxes means that
A) at the current price of a cardboard box, the quantity demanded exceeds the quantity supplied.
B) at the current price of a cardboard box, the quantity demanded is less than the quantity supplied.
C) the current price of a cardboard box is less than the equilibrium price.
D) at the current price of a cardboard box, the quantity demanded equals the quantity supplied and the price will fall to restore the equilibrium.
E) More information is needed to determine if the price of cardboard boxes is higher than, lower than, or equal to the equilibrium price.
B
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Nicole is indifferent between option A, which gives her $20,000 for sure, and option B, which gives her $10,000 with probability 0.5 or $32,000 with probability 0.5. Nicole's cost of risk for option B is
A) zero. B) $1,000. C) $2,000. D) $20,000.
In the United States, spending on Social Security, Medicare, and Medicaid was approximately ________ of GDP in 1962, and is expected to be approximately ________ of GDP in 2050
A) 12%; 50% B) 3%; 20% C) 40%; 5% D) 25%; 65%
In the long run an increase in the money supply causes the price level to __________. The price level moves in this direction because an increase in the money supply creates __________ in the money market that causes people to ________ spending
Fill in the blank(s) with correct word
Experience rating systems for pricing insurance are based on past medical bills of a firm's employees.
Answer the following statement true (T) or false (F)