If market price is equal to equilibrium price
A. there is a surplus.
B. there is a shortage.
C. there is neither a surplus nor a shortage.
C. there is neither a surplus nor a shortage.
You might also like to view...
If a bond pays $50 a year to its holder and you buy it for $200, what is your interest rate?
What will be an ideal response?
A minimum wage ________
A) is a price ceiling in the labor market B) changes the demand for labor. C) is an effective way of increasing employment D) is a price floor in the labor market
If an industry's long-run per-unit costs decrease as its output increases then
A) the firm's long-run economic profits must be less than zero. B) the firm is most likely a decreasing-cost industry. C) the firm is most likely an increasing-cost industry. D) the firm is most likely a constant-cost industry.
If the euro faces a currency crisis with its value falling from $1.40 per euro to $1.20 per euro, who would benefit the most?
a) An American car manufacturer trying to export cars to Spain. b) Universal Studios Orlando, which wants more European tourists to visit its theme parks. c) The Brown family from Florida who plans to visit Paris next month. d) Jared, an American investor who purchased a 10,000 euro bond last year.