A shortage, also known as excess demand, occurs if buyers want to buy more than sellers want to sell
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The net-export effect of expansionary monetary policy is a(n)
A) depreciation of the value of the dollar and the decrease of U.S. net exports. B) appreciation of the value of the dollar and the increase of U.S. net exports. C) appreciation of the value of the dollar and the decrease of U.S. net exports. D) depreciation of the value of the dollar and the increase of U.S. net exports.
The substitution effect can be defined as:
A. the change in consumption that results from a change in the relative price of goods. B. the change in consumption that results from increased effective wealth due to lower prices. C. the change in consumption that results from increased effective wealth due to getting a raise. D. the change in income that results from increased effective consumption due to lower prices
A point outside the production possibilities curve represents a combination of goods that is:
a. inefficient. b. efficient. c. unattainable. d. attainable.
Command systems in the Soviet Union and Eastern Europe failed primarily because of coordination and incentive problems.
Answer the following statement true (T) or false (F)