If quantity supplied is either greater or less than the equilibrium quantity, then all of the following are true except:
a. total loss of surplus will depend on the shape of the demand and supply curves.
b. the resulting loss of consumer surplus will depend on the price of the good.
c. total loss of surplus will depend on the price of the good.
d. there will be an inefficient allocation of resources.
c
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Explain how the Supplemental Security Income Program works
What will be an ideal response?
Other things the same, the real exchange rate between American and French goods would be lower if
a. prices of French goods were higher, or the number of euros a dollar purchased was higher. b. prices of French goods were higher, or the number of euros a dollar purchased was lower. c. prices of French goods were lower, or the number of euros a dollar purchased was higher. d. prices of French goods were lower, or the number of euros a dollar purchased was lower.
Every two weeks Hailey gets a check for the freelance work she does for Suzy’s Networking Services. This payment is a component of the ______ market.
a. product b. factor c. stock d. bond
The United States is a member of the OPEC cartel.
Answer the following statement true (T) or false (F)