At the equilibrium price,
A. the amount buyers wish to purchase is less than the amount producers wish to sell.
B. the amount buyers wish to purchase equals the amount producers wish to sell.
C. the amount buyers wish to purchase is greater than the amount producers wish to sell.
Answer: B
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If the real interest rate is 7 percent when the nominal interest is 12 rate is percent, the inflation rate is
A) -5 percent. B) 5 percent. C) 19 percent. D) 1.7 percent. E) 7 percent.
Suppose you are offered a concert ticket in exchange for four hours of your work in your friend's garden. This is an example of
A. money as a standard of deferred payment. B. money as a medium of exchange. C. barter. D. money as a store of value.
(Advanced analysis) Susie has $500 invested in a financial asset earning an annually compounded interest rate of 8 percent. If Susie plans to cash in the asset when it is worth $700, about how long will she have to wait?
A. 4.4 years. B. 5 years. C. 6.1 years. D. 8 years.
Government prohibition of advertising cigarettes on television would most likely result in
A) a rightward shift in the demand curve for cigarettes. B) a leftward shift in the demand curve for cigarettes. C) a rightward shift in the demand curve for television advertising time. D) no change in the market for either cigarette or television advertising.