Suppliers recognize there is a shortage in the market for their product when they notice that
a. the quantity supplied exceeds the quantity demanded.
b. the quantity demanded is falling.
c. inventories are falling.
d. production exceeds new orders for the product.
e. government economists announce a shortage exists.
C
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The change in wealth during a period equals:
A. saving - capital gains + capital losses. B. public saving + private saving - transfers. C. saving + capital gains - capital losses. D. saving - investment + capital gains - capital losses.
The expectation of higher prices in the near future will lead to a(n) _________ in supply at the present time.
Fill in the blank(s) with the appropriate word(s).
You like bundle A better than bundle B, and bundle C is an average of bundles A and B. Which of the following is correct if your tastes satisfy our usual assumptions?
A. Bundle C is at least as good as bundle B. B. Bundle A is at least as good as bundle C. C. Both (a) and (b). D. None of the above. E. There is not enough information to tell.
What types of government policies can increase long-run living standards?
What will be an ideal response?