At equilibrium, each of these is true EXCEPT
A. quantity demanded equals quantity supplied.
B. the price has no tendency to change.
C. market price equals equilibrium price.
D. there may be a shortage or a surplus.
D. there may be a shortage or a surplus.
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Commodity money can best be described as
A) money used to purchase agricultural products B) a good used as money that also has value independent of its use as money C) standardized goods like gold that trade in a financial market D) the form of money used in a barter system
________ is an optimal strategy used in repeated games for getting the other player to cooperate
a. Prisoner's dilemma b. Tit-for-tat c. Coordination game d. One-shot game
A group of workers who join together to improve their terms of employment is called:
a. a worker's cooperative. b. an economic group. c. a corporate team. d. a labor union.
Among the following, which would not be considered part of the investment component of GDP?
A. Manufacturers’ equipment B. Buying corporate stock C. New houses D. Business structures