Suppose that when the price of broccoli is $4 per pound, buyers wish to buy 500 pounds per day and sellers wish to sell 800 pounds per day. In this case:
A. excess supply will lead the price of broccoli to fall.
B. excess demand will lead the price of broccoli to rise.
C. excess demand will lead the price of broccoli to fall.
D. excess supply will lead the price of broccoli to rise.
Answer: A
You might also like to view...
In a steady-state economy with no population growth, capital per worker is 86, the saving rate is 25 percent, and the depreciation rate is 11 percent. The level of output per worker is ________
A) 195 B) 38 C) 35 D) 47
A firm replaces a machine by hiring 3 hourly production workers instead. a. Both its fixed and variable costs will fall
b. Both its fixed and variable costs will rise. c. Its fixed costs will rise and its variable costs will fall. d. Its fixed costs will fall and its variable costs will rise.
Suppose that a bank has $250 in vault cash, $750 in deposits at the Federal Reserve, $9,000 of loans, and deposits of $10,000. How much does this bank have in reserves?
a) $250 b) $750 c) $1,000 d) $9,000
If some gain and some lose as the result of a change, and it can be demonstrated that the value of the gains exceeds the value of the losses, then the change is said to be
A. technically efficient. B. inefficient. C. potentially efficient. D. unequivocally Pareto optimal.