?
In Exhibit 3-7, if price happened to currently be $75 in this market, a _______ would result, causing a __________ in price.
A. shortage; increase
B. shortage; decrease
C. surplus; increase
D. surplus; decrease
Answer: D
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When the money supply is expanding rapidly and the general level of prices increasing sharply, economic growth is
What will be an ideal response?
Private saving is positive when:
A. the government's budget is balanced. B. there is a government budget surplus. C. there is a government budget deficit. D. after-tax income of households and businesses is greater than consumption expenditures.
During the Great Depression in the 1930s, the average tariff level in the United States peaked at about
A) zero. B) 6 percent. C) 20 percent. D) 100 percent.
Recent evidence suggests that output per worker is
A) positively related to both the rate of investment and to the rate of population growth. B) positively related to the rate of investment and negatively related to the rate of population growth. C) negatively related to the rate of investment and positively related to the rate of population growth. D) negatively related to both the rate of investment and to the rate of population growth.