A market shortage can be defined as a situation in which the quantity supplied in a market is greater than the quantity demanded, at the given price.
a. true
b. false
Answer: b. false
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In the industrial period of U.S. history, the manufacturing goods consumed by U.S. households were subject to
(a) high taxes. (b) Engel's Law. (c) income effects. (d) none of the above.
A source of business risk is a change in
A) technology. B) consumer preferences. C) input prices. D) All of the above
Cooperation in an infinite game
A. is impossible. B. is possible if grim strategies are used. C. is guaranteed. D. is possible if no one cares about the future.
The statistical discrepancy account:
a. accounts for services. b. accounts for gifts to foreigners. c. is included to ensure a balance between debits and credits in the capital account. d. estimates transactions that were omitted from the official reporting process. e. causes the net balance in the balance of payments to be negative.