At the equilibrium price, Question 30 options:
A. the quantity demanded equals supply.
B. the government is setting the price.
C. the quantity supplied equals demand.
D. the quantity demanded equals the quantity supplied.
E. there can be either a small surplus or a small shortage.
D. the quantity demanded equals the quantity supplied.
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When the quantity demanded of a good exceeds the quantity supplied of the good at the prevailing market price, _____.
A) the market will be in equilibrium. B) the price of the good will decrease. C) the price of the good will tend to increase. D) the demand curve will shift rightward until the surplus is eliminated. E) the supply curve will shift leftward until the surplus is eliminated.
The quintile distribution of family income in the United States shows
A) the average incomes of 5-person families grouped by age, sex, race, education, and similar factors. B) the percentage of total family income received by each 5 percent of U.S. families grouped by income. C) the percentage of total income received by each 20 percent of U.S. families grouped by income. D) the percentage of total family income spent on food, clothing, shelter, medical care, and essential services. E) the percentage of total family income stemming respectively from wages, interest, profit, rent, and welfare grants or other transfers.
At any given moment, there is one exchange rate
A. for currencies in the free world. B. between every pair of currencies. C. for all the world’s currencies. D. established by the Federal Reserve Board.
The balance of payments is the domestic price of a foreign currency.
Answer the following statement true (T) or false (F)