The equilibrium or market clearing price occurs at the point at which
A) quantity demanded equals quantity supplied.
B) the supply curve intersects the horizontal axis.
C) the demand curve intersects the vertical axis.
D) there is a shortage of the desired good.
A
You might also like to view...
When lenders are unable to get good information about the worthiness of a project the lender has the problem of
A) adverse selection. B) moral selection. C) moral hazard. D) adverse hazard.
How will a government-imposed minimum wage affect the equilibrium level of employment in a competitive labor market and in a monopsony labor market?
What will be an ideal response?
_________________—a term referring to the putting advances in knowledge to use in a new product or service.
a. Production function b. Invention c. Innovation d. Technological change
Suppose that inventory investment is $20 billion and (total) investment is $680 billion. What does purchases of newly produced capital goods equal?
A) $715 billion B) $785 billion C) $750 billion D) $35 billion E) There is not enough information to answer this question.