A surplus in a market exists when there is an excess quantity demanded
a. True
b. False
Indicate whether the statement is true or false
False
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In the ________, one firm sets its output first, and then a second firm, after observing the first firm's output, makes its output decision
A) Cournot model B) model of monopolistic competition C) Bertrand model D) kinked-demand model E) none of the above
When trying out for the football team, the coach may have candidates run a lap around the track. This is an example of:
A. signaling. B. screening. C. strength building. D. training.
An increase in the expected inflation rate causes: a. the velocity of money to increase. b. the velocity of money to decrease. c. the actual inflation rate to fall
d. the actual price level to decrease. e. the money supply to increase.
For a market for a good or service to exist, there must be a
a. group of buyers and sellers. b. specific time and place at which the good or service is traded. c. high degree of organization present. d. All of the above are correct.