An excess demand in a market implies that
a. the amount demanded is less than the amount supplied
b. price is greater than the equilibrium price
c. a shortage of the good exists
d. a surplus of the good exists
e. the government must implement a price ceiling
C
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A program through which new ideas, methods, and advice are offered to farmers to increase farm yields is known as
(a) agricultural extension. (b) agricultural mechanization. (c) an agrarian system. (d) land reform.
The double taxation of capital gains can be justified _____
a. on the ability-to-pay principle b. on efficiency grounds c. on the grounds that government needs more revenue d. on the benefit principle
The primary source of power for industrial production in the antebellum period was:
a. coal. b. steam. c. water. d. wood.
Which of the following statements is most correct?
A. Stockholders have unlimited liability and can dislodge members of the board of directors. B. Stockholders can dislodge the managers of the corporation but not the board of directors. C. Stockholders have limited liability and have no control over corporate leadership. D. Stockholders can dislodge members of the board and have limited liability.