A surplus is said to exist when, at prevailing prices,
A) demand is greater than supply.
B) quantity supplied is greater than quantity demanded.
C) scarcity is eliminated.
D) supply and demand are in harmonic equilibrium.
B
Economics
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Refer to Figure 3-1. A decrease in taste or preference would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
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Under the U.K. Bribery Act, bribery ________ virtually illegal per se and individuals convicted under this act can face up to ________ years in prison.
A) is; 20 B) is not; 10 C) is not; 20 D) is; 10
Economics