At the equilibrium price:
A. quantity supplied may exceed quantity demanded or vice versa.
B. there are no pressures on price to either rise or fall.
C. there are forces that cause price to rise.
D. there are forces that cause price to fall.
Answer: B
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Refer to Scenario 12.2. If each player plays an ideal mixed strategy, then both will donate a kidney about ________ of the time
A) 6.25% B) 12.5% C) 37.5% D) 50%
If unplanned investment is negative, firms will ________ production and output will ________
A) cut; rise B) cut; fall C) increase; rise D) increase; fall
An efficient economy:
a. uses available resources fully. b. uses the best division of labor. c. produces an output combination at some point along the production possibility curve. d. all of these.
Which market-oriented environmental policy tool works best when millions of users emit small amounts of pollution?
a. Marketable permits b. Property rights definitions c. Pollution charges d. Command-and-control