If the quantity demanded exceeds the quantity supplied, then there is
A) a shortage and the price is below the equilibrium price.
B) a shortage and the price is above the equilibrium price.
C) a surplus and the price is below the equilibrium price.
D) a surplus and the price is above the equilibrium price.
A
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After the depression of the 1930s and the interruption of World War II, in the post-war period (1945–50) private investment
(a) fell back to the 1920s level. (b) rose to unprecedented levels. (c) collapsed in the 1948 downturn and then returned to the stagnation levels of the 1930s. (d) did none of the above.
The marginal propensity to consume is
A. disposable income divided by consumption. B. the change in consumption divided by the change in disposable income. C. consumption divided by disposable income. D. the change in disposable income divided by the change in consumption.