When there is excess demand for a product in a market,
a. price will tend to 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.
B
Economics
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Which of the following assets is the most liquid?
a. Money market mutual fund shares. b. Certificates of deposit. c. Dollars. d. Passbook savings deposits.
Economics
An example of an implicit cost of production is: a. the cost of leather used in manufacturing furniture
b. the opportunity cost of space in your home that is used for a home office. c. the wages paid to high school students that work in a fast-food restaurant. d. none of the above.
Economics