A market will experience a ____ when the price is above equilibrium and a ____ when the price is below equilibrium
a. shortage, shortage
b. surplus, surplus
c. shortage, surplus
d. surplus, shortage
d
You might also like to view...
What are the economic functions of depository institutions?
What will be an ideal response?
According to the law of comparative advantage, individuals and economies should specialize in producing those goods and services in which they have a comparative advantage
a. True b. False
The economic expansion that began in 1991
a. lasted approximately five years. b. lasted approximately twelve years. c. lasted approximately nine years. d. was the longest expansion in U.S. history. e. was the second longest expansion in U.S. history.
During the financial crisis of 2007-2009 the interest rate spread on mortgage-backed securities over Treasury bills
a. increased tremendously. b. increased moderately. c. decreased moderately. d. decreased tremendously.