If, at the current price, there is a surplus of a good, then
a. the quantity supplied is greater than the quantity demanded.
b. the market must be in equilibrium
c. the price is below the equilibrium price.
d. quantity demanded equals quantity supplied.
a
You might also like to view...
If the demand for a good is highly elastic, that good is likely to have:
A. many close substitutes. B. many close complements. C. few close substitutes. D. few close complements.
Which of the following contributed to the turn-around in the U.S. government budget from a surplus in the early 2000s to record deficits by the end of the decade?
A. An increase in tax revenues because of a recession. B. An increase in business saving. C. An increase in government purchases on homeland security and wars. D. An increase in household saving.
Classical theory advocates _____________ policy and Keynesian theory advocates ______________ policy
a. nonintervention; intervention b. active; nonstabilization c. stabilization; fixed wage d. fixed rule; passive
Strong incentives are provided by:
A. pay on performance. B. fixed salaries and limited pay on performance. C. threatening to outsource the job to low-wage countries. D. fixed salaries.