Suppose there is currently a shortage in the guitar market. Pick the correct statement
A) Quantity demanded exceeds quantity supplied.
B) Sellers could sell all they plan to sell at the current price.
C) The price of guitars would tend to increase.
D) All of the above are true.
E) None of the above is true.
D
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The marginal productivity principle implies that
a. quantity demanded of an input normally declines as the input price falls. b. at equilibrium, profit from the last unit of input will be zero. c. for maximizing profit, marginal revenue product should be greater than price. d. marginal productivity of inputs increase when price of inputs increase.
If you invest $1,000 in a savings account and the annual interest rate is 3.6 percent, your account balance will double in value in approximately _____.
A) 185 years B) 72 years C) 34 years D) 20 years E) 3.4 years
An investor who diversifies by purchasing a 50-50 mix of two stocks that are not perfectly positively correlated will find that the standard deviation of the portfolio is:
A. greater than the standard deviation from holding the same balance in only one of these stocks. B. the sum of the standard deviations of the two individual stocks. C. less than the standard deviation from holding the same balance in only one of these stocks. D. greater than the sum of the standard deviations of the individual stocks.
A depreciation in the value of the U.S. dollar would:
A. encourage foreigners to travel on American owned airlines. B. make U.S. goods more expensive to foreign consumers. C. decrease the number of dollars it takes to buy a Swiss franc. D. make it more expensive for U.S. citizens to travel abroad.