In the graph shown above at a price of $4.50
A. there is a shortage.
B. there is a surplus.
C. there is a both a shortage and a surplus.
D. there is neither a shortage nor a surplus.
D. there is neither a shortage nor a surplus.
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Evidence from the Great Recession suggests that the crowding out effect:
A. was minimal at that time. B. had a very detrimental effect on private savings. C. can be quite large in times of recession, and is reinforced with recent research from 2008. D. may hold, although the evidence is somewhat contradictory.
The percentage of a change in income that is spent domestically is:
a. the sum of the MPC and the MPI. b. the sum of the MPC and the MPS. c. the difference between the MPC and the MPI. d. the product of the MPC and the MPI. e. the sum of the MPS and the MPI.
If households and firms expect higher rates of inflation, the ________ curve will shift ________.
A. SRAS; upward B. AD; until it becomes vertical C. SRAS; downward D. AD; rightward
For years, your neighbor insisted she had no desire to own a computer. Recently, however, she purchased one and says she did so because all her relatives have computers and she wants to exchange e-mail with them. Your neighbor's behavior is an example of
A) a switching cost. B) the impact of negative market feedback. C) limited-pricing behavior. D) a network effect.