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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Which of the following factors prevents economists from comparing prices over different time periods?
a. Changes in the political and economic scenarios in a particular country b. Changes in consumer earnings c. Changes in the quality and characteristics of different products d. Changes in consumer tastes and preferences
Interbank trading is:
a. a monopoly business in the United States. b. controlled by just 10 banks. c. a state-mandated business. d. a highly competitive market, with hundreds of banks offering services.
The equation of exchange shows that
A) P = (M × V) ÷ Y. B) P = (V × M) × Y. C) P = (M ÷ V) × Y. D) P = (M × Y) ÷ V. E) P - Y = M + V.
In Michael Porter's five competitive forces model, what do the competitive forces determine?
What will be an ideal response?