If excess demand exists in a market, then
a. excess supply will emerge to absorb the excess demand
b. the quantity supplied is less than the quantity demanded
c. the quantity demanded is less than the quantity supplied
d. the equilibrium price will fall
e. the price will fall
If excess demand exists in a market, then
b. the quantity supplied is less than the quantity demanded
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We cannot be certain that a general sales tax will decrease labor supply because _____
a. of the effect of lower income on labor supply b. of the effect of higher tax revenue on consumption c. of the effect of the sales tax on labor supply d. we do not know about labor demand
Claire was trying to decide if she should buy a share of stock in her favorite company or a bond issued by that same company. She discussed the dilemma with her father. Her father made the following five statements. All of them are accurate except for one. Which one is the exception?
a. "If you buy a share of stock you will own a piece of the company" b. "If you buy a bond you will own a piece of the company" c. "If you buy a bond and change your mind you can sell it on the secondary bond market" d. "You should be careful because if you buy a share of stock you could loose your original investment" e. "If you buy a stock it may be worth more in the future"
U.S. imports rise when income in the United States increases
a. True b. False Indicate whether the statement is true or false
The U.S. had the largest trade deficit in 2009 with which of the following countries?
a. Canada b. Japan c. Mexico d. China