If the current quantity demanded of John Deere tractors is 50,000 tractors, and the quantity supplied is 75,000 tractors, then
A) there is a shortage of 25,000 tractors.
B) there is a surplus of 25,000 tractors.
C) there is a shortage of 125,000 tractors.
D) there is a surplus of 125,00 tractors.
B
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When the Herfindahl-Hirschman Index for an industry is
A) very small, the industry can be perfectly competitive. B) very large, the industry can be perfectly competitive. C) 10,000, the industry is perfectly competitive. D) very small, the industry can be a monopoly. E) above 5,000, the industry is considered not very competitive, and when it is below 5,000, the industry is considered very competitive.
Providing a good would likely be most difficult when the project involves assembling
A) a few parcels of contiguous land. B) a few parcels of noncontiguous land. C) many parcels of contiguous land. D) many parcels of noncontiguous land.
Demand-pull inflation persists because of
A) continuing increases in government expenditures. B) continuing increases in the quantity of money. C) continuing increases in the real wage rate. D) continuing decreases in the money wage rate. E) continuing increases in aggregate supply.
An increase in the market price of a good increases consumer surplus
a. True b. False Indicate whether the statement is true or false