When a country's quantity supplied exceeds its quantity demanded for any given price, then this indicates the country has
A) Excess supply. B) Excess demand. C) Import demand. D) None of the above.
Answer: A
You might also like to view...
Use the following table to answer the question below. Jane's Production Possibilities SchedulePounds of Green BeansPounds of Corn08020604040602080 0Jane's opportunity cost of producing 1 pound of corn is ________ pound(s) of green beans.
A. 2 B. 4 C. 1/2 D. 1
A strategy in which a player cooperates in the current period if the other player cooperated in the previous period, but the player cheats in the current period if the other player cheated in the previous period is called a
A) tit-for-tat strategy. B) trigger strategy. C) duopoly strategy. D) dominant firm strategy.
Compared with money, bonds have
A) less risk and less liquidity. B) less risk and more liquidity. C) more risk and less liquidity. D) more risk and more liquidity.
The saying “the lower the price, the better” may not always be correct for an economy’s public interest because
A. people should have to pay for what they want. B. people will overuse something they perceive as being cheaper than the utility they receive for it. C. the government can no longer afford to provide all the goods and services it provides because it is slowly going broke. D. cheaper prices will make people buy less of other things.