All of the following apply to the description of a market in equilibrium except:
A. quantity supplied equals quantity demanded.
B. the intersection of the supply and demand curves.
C. no excess supply exists.
D. the price of the good is falling.
Answer: D
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Thomas Jefferson supported the Land Ordinances of 1785 and 1787
Indicate whether the statement is true or false
A surplus means a(n):
a. excess demand for this product. b. situation where the current market price is too low. c. situation where the quantity demanded exceeds the quantity supplied. d. situation where the quantity supplied is less than the quantity demanded. e. excess supply of the product at the current price.
The value of the resources flowing into firms is precisely the value of the goods and services flowing out of the firms
Indicate whether the statement is true or false
Discrimination in the workplace results when
A. employers refuse to hire someone who is an illegal immigrant. B. pay and treatment on a job depend on a person's race, gender, or some other characteristic. C. employers pay people a higher wage if they are better educated. D. people who are less productive are paid less than those who are more productive.