When the current price of a good is below the equilibrium price:
A. sellers will notice their inventories are growing.
B. there will be excess supply.
C. the price will tend to stay below the equilibrium price.
D. buyers have an incentive to offer to pay sellers more than the current price.
Answer: D
Economics
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A tariff has the effect of giving ________ a larger share of the domestic market
a. domestic consumers b. foreign consumers c. domestic producers d. foreign producers e. no producers or consumers
Economics
Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. A shift from ppf1 to ppf2 may be caused by
A. an increased desire for consumer goods. B. a change in consumer tastes. C. an improvement in technology. D. an increase in inflation.
Economics