If equilibrium is present in a market:
a. there is either a shortage or a surplus
b. the quantity demanded equals quantity supplied.
c. the quantity demanded exceeds quantity supplied.
d. the quantity supplied exceeds quantity demanded.
b
You might also like to view...
An import quota restricts ________ and is designed to protect domestic ________
A) exports; consumers B) exports; producers C) imports; consumers D) imports; producers
Which of the following is NOT a responsibility of the Board of Governors?
A) approving bank mergers B) determining permissible activities for bank holding companies C) carrying out open market operations D) setting the salaries of the presidents and officers of district banks
Firms in monopolistically competitive markets can differentiate their products on the basis of: a. geographical location. b. service
c. credit terms. d. all of the above.
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and reserve-related (central bank) transactions in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and reserve-related (central bank) transactions remain the same. b. The GDP Price Index falls, and reserve-related (central bank) transactions become more negative (or less positive). c. The GDP Price Index and reserve-related (central bank) transactions remain the same. d. The GDP Price Index rises, and reserve-related (central bank) transactions become more positive (or less negative). e. The GDP Price Index rises, and reserve-related (central bank) transactions remain the same.