In the above figure, if the price is equal to $50, there is
A) a surplus of 200 units.
B) a shortage of 100 units.
C) an excess quantity demanded of 50 units.
D) an inadequate supply of 100 units.
A
You might also like to view...
The concept of "economic pessimism" stems from
A) the theory and empirical fact which states that developing nations face declining export prices relative to increasing import prices. B) the fact that economic growth in an era of globalization is difficult to attain. C) the fact that smaller countries would not enjoy comparative advantage unless they are allowed to subsidize some of their industries. D) the fact that it is impossible to achieve desired economic development without adopting full democratic principles. E) None of the above.
In a closed economy with no government, aggregate expenditure is
A) consumption plus investment. B) saving plus investment. C) consumption plus the MPC. D) MPC + MPS. E) none of the above.
Suppose monetary policy results in the exchange rate falling. As a result,
A) exports do not change because they are autonomous and imports decrease. B) net exports decrease. C) exports increase and imports increase. D) exports decrease and imports decrease. E) net exports increase.
In Figure 23.1, for a good with no externality, which area represents the total revenue to the producer? 
A. 0BCQ* B. BP*C C. 0P*CQ* D. AP*C