When there is an excess demand of a product in an unregulated market, the tendency is for
A. price to rise.
B. quantity demanded to increase.
C. quantity supplied to decrease.
D. price to decrease.
Answer: A
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Suppose that nominal GDP in 2016 was less than real GDP in 2016. Given this information, we know for certain that
A) real GDP in 2016 was greater than real GDP in the base year. B) the price level in 2016 was less than the price level in the base year. C) real GDP in 2016 was less than real GDP in the base year. D) the price level in 2016 was greater than the price level in the base year.
An asset is
A) the same thing as a liability. B) a thing of value that can be owned. C) money, as opposed to stock or bonds. D) anything that never declines in value.
Exchange rates should change whenever a nation's:
a. Relative expectations change. b. Relative income changes. c. Relative interest rates change. d. Relative price level changes. e. All of the above are true.
A hollow corporation
A. makes goods abroad and ships them to the United States. B. makes goods in the United States and ships them abroad. C. imports foreign goods and puts its own name on them. D. makes goods in the United States and has them sold abroad under another company's name.