When quantity supplied is more than quantity demanded:
a. supply shock
b. shortage
c. excess supply
d. disequilibrium
e. search costs
Ans: c. excess supply
You might also like to view...
The figure above shows a typical perfectly competitive corn farm, whose marginal cost curve is MC and average total cost curve is ATC
Assuming there are no changes in technology, in the long run the lowest possible price for corn is ________ per bushel. A) $2.50 B) $2.00 C) $3.00 D) $3.50
What are the major differences between the new HDI and the original HDI?
What will be an ideal response?
When testing the null hypothesis that two regression slopes are zero simultaneously, then you cannot reject the null hypothesis at the 5% level, if the ellipse contains the point
A) (-1.96, 1.96). B) . C) (0,0). D) (1.962, 1.962).
A temporary tax cut is not likely to be effective in stimulating aggregate demand if: a. the tax cut is large
b. the MPC is relatively high. c. the economy experiences a contractionary gap. d. the short-run aggregate supply curve is relatively flat. e. people based consumption decisions on their level of permanent income.