A surplus occurs whenever
A. price is above the equilibrium price.
B. price is below the equilibrium price.
C. price is equal to the equilibrium price.
D. the supply curve is downward sloping.
Answer: A
You might also like to view...
Monthly expenditures for a family of 4 in 2015 averaged $1,400. In 2016, the cost of the same purchases was $1,500. If 2015 is the base year, what was the CPI in 2016?
A) 110 B) 107 C) 100 D) 93
The justification for government action based on the argument that everyone agrees to be coerced if everyone else is forced as well is not compatible with the criterion of Pareto superiority
a. True b. False
The main reason the United States' standard of living is higher than that of India and China is that we have more
A. land. B. labor. C. capital. D. money.
Who is included in the labor force by the Bureau of Labor Statistics?
a. Tina, who worked most of the week in a steel factory b. Kelly, who is temporarily laid off but expects to be recalled c. DJ, who does not have a job but is looking for work d. All of the above are correct.