When the price of gasoline is such that the quantity of gasoline demanded just equals the quantity of gasoline supplied, we say that the market is

a. in equilibrium
b. in distress
c. in disequilibrium
d. in need of change
e. in dire straits

A

Economics

You might also like to view...

The various ways that vertical relationships can evade regulation include

a. tying the sale of a regulated good to a customer's choice of an unregulated good b. unbundling regulated and unregulated goods c. preventing the exclusion of rival unregulated goods d. exploiting differences in tax rates across jurisdictions

Economics

Which of the following is not true about migration?

a. Migration plays an important role in the economies of developing countries b. A major source of foreign exchange in some countries is the money sent home by migrants c. Migration provides a valuable safety valve for poor countries d. The best and brightest professionals are very unlikely to migrate to developed countries e. Every year thousands of nurses migrate from countries such as Kenya and the Philippines to the United States

Economics