An excess quantity supplied can be corrected by
A) a fall in price.
B) legally fixing the price at its present level.
C) a decrease in demand.
D) an increase in supply.
A
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The above figure shows the U.S. market for replacement cell phone batteries. With free trade, U.S. production is equal to ________ batteries per year
When a $2 tariff is in place, U.S. production is equal to ________ batteries per year. A) 900,000; 700,000 B) 300,000; 100,000 C) 100,000; 500,000 D) 300,000; 500,000 E) 100,000; 300,000
In 1943-1945
A. there was substantial unemployment in the U.S. B. there was substantial excess plant and equipment in the U.S. C. the U.S. had not yet completed its recovery from the depression. D. the U.S. was temporarily operating at a point beyond the production possibilities frontier.
Give a scenario of a perfectly competitive firm finding the profit-maximizing level of output over a several-year period.
What will be an ideal response?
The average amount of time people spend unemployed is approximately
A) 1 month. B) 6 months . C) 12 months. D) none of the above