A shortage exists when
A. QD=QS.
B. QD
D. an act of god makes goods available at very low prices.
Answer: B
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"The Florida freeze has destroyed 40% of the orange cro
A) Yes. The freeze would not reduce the supply. B) Yes. The higher price would not reduce the demand. C) Yes. It assumes the demand curve for oranges is vertical. D) Yes. It assumes the demand curve for oranges is upward-sloping.
A increase in net exports
a. shifts the aggregate demand schedule upward b. shifts the aggregate demand schedule downward. c. does not shift the aggregate demand schedule. d. decreases saving.
The forecasting method that involves using an average of past observations to predict the future (if the forecaster feels that the future is a reflection of some average of past results) is the
A) moving average method. B) econometric forecasting method. C) exponential smoothing method. D) Both A and B E) Both A and C
Which of the following explains why pork-barrel spending is often approved, even when the spending is inefficient?
What will be an ideal response?