When market price is above equilibrium price
A. a shortage is generated.
B. market price will rise.
C. quantity supplied is greater than quantity demanded.
D. None of these choices are correct.
C. quantity supplied is greater than quantity demanded.
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Which of the following is a topic studied in macroeconomics?
A. Unemployment rates over time B. Taxation strategies of major corporations C. Gasoline price changes D. Consumer participation in Facebook
If Katherine claims that when it comes to buying shoes, "price is no object," her demand curve for shoes is likely to be
a. horizontal b. nonexistent c. upward sloping d. highly inelastic e. unit elastic
According to the following information, what is the unemployment rate? Number of Employed: 800 Number of Unemployed: 200 Not in the Labor Force: 50
a. 6% b. 19% c. 20% d. 28%
Refer to the information provided in Figure 16.4 below to answer the question(s) that follow.Los Angeles International Airport (LAX) is located next to Playa Del Rey. The noise from air traffic negatively affects individuals living in Playa Del Rey, however, this cost is not considered by airlines or air travelers. The airlines feel they have a right to use the airspace while the individuals living in Playa Del Rey feel they have the right to quiet. The following diagram depicts the marginal costs and marginal benefits associated with air travel.
Figure 16.4Refer to Figure 16.4. Suppose the government assigns property rights to the airlines. No
negotiations occur between the parties. The resulting level of air travel is A. 0 units. B. 100 units. C. 120 units. D. Indeterminate from the given information.