At a given price, a surplus occurs when
a. the quantity demanded is more than the quantity supplied.
b. the quantity demanded is the same as the quantity supplied.
c. the quantity supplied is less than the quantity demanded.
d. the quantity supplied is greater than the quantity demanded.
Ans: d. the quantity supplied is greater than the quantity demanded.
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A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
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What will be an ideal response?
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Answer the following statement true (T) or false (F)