At the equilibrium price for gasoline:
a. everyone with the desire and the income to buy gasoline at that price can do so.
b. surpluses are inevitable
c. quantity demanded exceeds the quantity supplied.
d. none of the above
a
You might also like to view...
We do not have reliable information on the time lags between expansionary fiscal and monetary policy actions and their effect on production and prices because
A) Congress has reduced the funds available to the Bureau of Economic Analysis. B) economists believe any discretionary policy would only make matters worse. C) economists have only recently discovered the importance of this problem. D) the length of the lags will depend in large part on how long they are thought to be.
An activity that would not be included in GDP would be:
A. a sweater you knit for your roommate for her birthday. B. getting tomatoes from your garden and making salsa with them. C. paying a company forcleaning your house. D. None of these would be included in GDP.
Which of the following will discourage investment?
What will be an ideal response?
Refer to the following graphs.
Which graph depicts a perfectly competitive firm that will minimize short-run losses by producing zero output?
A. Graph I B. Graph II C. Graph III D. Graph IV