A surplus means a(n):
A. excess demand for the product at the current price.
B. situation where the current market price is too low.
C. situation where the quantity demanded exceeds the quantity supplied.
D. excess supply of the product at the current price.
Answer: D
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Given that the firm wants to sell both the versions, how high can the high-end professional knives be priced?
a. $60 b. $70 c. $80 d. $100
Assume that supply decreases greatly and demand decreases slightly. Which of the following will happen?
a. Equilibrium price will fall and equilibrium quantity will rise. b. Equilibrium price will rise and equilibrium quantity will fall. c. Equilibrium price will rise and equilibrium quantity will rise. d. Equilibrium price will fall and equilibrium quantity will fall. e. Neither equilibrium price nor equilibrium quantity will change.
Money can be many things, but it is not:
A. a financial asset. B. a financial liability. C. liquid. D. illiquid.
Value of a loan amount X with interest r after one period equals:
A. X/(1 + r) B. X * (1 + r) C. (X * 1)/(X * r) D. All of these are true.