When there is a shortage of a product in a market the:
A. price will fall.
B. price must be below the equilibrium price.
C. price must be above the equilibrium price.
D. producers will reduce output and sales will fall.
Answer: B
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Majority of international migrants move to:
A. The U.S. and Canada B. Western Europe C. Countries relatively close to their home countries D. Japan and Australia
To reassure investors who were unwilling to buy mortgages in the secondary market, the U.S. Congress used two government sponsored enterprises, ________, to sell bonds to investors and use the funds to purchase mortgages from banks
A) the Securities and Exchange Commission (SEC) and the Federal Trade Commission (FTC) B) ACORN and the Federal Housing Administration (FHA) C) Fannie Mae and Freddie Mac D) the Fed and the Treasury Department
When a child-care agency refuses to hire Jack simply because he is male, it is called: a. wage discrimination
b. job-entry discrimination. c. affirmative action. d. environmental factor discrimination.
If a surplus exists in a market, then we know that the actual price is
a. above the equilibrium price, and quantity supplied is greater than quantity demanded. b. above the equilibrium price, and quantity demanded is greater than quantity supplied. c. below the equilibrium price, and quantity demanded is greater than quantity supplied. d. below the equilibrium price, and quantity supplied is greater than quantity demanded.