The amount by which the quantity demanded exceeds the quantity supplied at a given price is a
A. Balance-of-payments deficit.
B. Market surplus.
C. Balance-of-payments surplus.
D. Market shortage.
Answer: D
You might also like to view...
The possible double taxation of income is a disadvantage for
A) sole proprietorships and partnerships. B) partnerships and corporations. C) sole proprietorships and corporations D) corporations.
In order to maximize profits, a firm should produce the level of output at which total revenue is maximized
a. True b. False Indicate whether the statement is true or false
Which of the following was the result of Fannie Mae and Freddie Mac being both privately-owned and government-sponsored enterprises?
a. Their government sponsorship increased their cost of acquiring loanable funds. b. They were unable to earn profits and pay dividends to their shareholders. c. Congressional regulations exerted little or no impact on their business operations. d. Their activities were more susceptible to political influence and favoritism.
The price of a new textbook increased by 35 percent and the price of a used textbook increased by 30 percent. What happened to the relative price of the new textbook?
A) It increased by 5 percent. B) It increased, but we can't tell by how much without more information. C) It decreased by 5 percent. D) It decreased, but we can't tell by how much without more information.