When there is an excess quantity of a product supplied, there will be
A) a tendency for price of the product to increase.
B) a tendency for price of the product to fall.
C) incentives for consumers to leave the market.
D) upward pressure on the price of labor.
B
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During the antebellum period U.S. tariffs on imported cotton textiles:
a. increased profits for British textile producers. b. decreased the prices of cotton textiles in the U.S. c. were supported by the southern states. d. were harmful to U.S. textile producers and their employees. e. None of the above is correct
How much savings when disposable income is $25 billion?
Kevin deposits a certain sum in a bank at an annual compounded rate of interest for two years. Interest in the second year will be calculated on:
A) the principal amount only. B) the amount in the account after one year. C) the sum of the principal amount and the amount in the account after one year. D) the difference in the principal amount and the amount in the account after one year.
If MUx / Px = MUY / PY, then _____
a. the consumer should purchase the same quantity of X and Y b. the consumer should purchase less of X c. the consumer is maximizing utility d. the consumer should purchase more of Y e. the consumer is minimizing utility