If supply increases and the price doesn't change, there will be
A. a surplus.
B. neither a shortage nor a surplus.
C. both a shortage and a surplus.
D. a shortage.
Answer: A
You might also like to view...
The space on the freeway is fixed at any instant of time. A supply curve that shows this is
A) perfectly horizontal. B) upward sloping. C) downward sloping. D) perfectly vertical.
The difference between nominal and real is
A) nominal is measured in current dollars and real is measured in dollars of a given year. B) real is measured in current dollars and nominal is measured in dollars of a given year. C) nominal is a number stated in dollars and real is stated with an index number. D) real is a number stated in dollars and nominal is stated with an index number. E) both nominal and real are measured with index numbers, only the nominal index is greater than 100 and the real index is less than 100.
If equilibrium is present in a market: a. there is either a shortage or a surplus
b. the quantity demanded equals quantity supplied. c. the quantity demanded exceeds quantity supplied. d. the quantity supplied exceeds quantity demanded.
Many public choice economists believe that elected political officials would make better choices if they had to vote for higher taxes in order to adopt new spending programs
a. True b. False Indicate whether the statement is true or false