If the actual price were below the equilibrium price in the market for bread, a:
A) surplus would develop that cannot be eliminated over time.
B) shortage would develop, which market forces would eliminate over time.
C) surplus would develop, which market forces would eliminate over time.
D) shortage would develop, which market forces would tend to exacerbate.
B
Economics
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The table below shows data for China
Population (millions) Real GDP (yuan, billions) Nominal GDP (yuan, billions) 2000 1267 4999 9921 2003 1292 6498 13582 2006 1315 8776 21087 The standard of living between 2003 and 2006 increased by ________. A) 55.3 percent B) 1.8 percent C) 35 percent D) 32.7 percent
Economics
Explain the infant industry argument case against free trade
What will be an ideal response?
Economics