A surplus occurs in a market when:
A) demand exceeds supply.
B) price is lower than the equilibrium price.
C) price is higher than the equilibrium price.
D) the marginal cost of production is negligible.
C
Economics
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The national debt is
a. the difference between a nation's exports and imports of goods and services. b. the sum of the personal debt of all citizens in the United States. c. the cumulative effect of all past budget deficits and surpluses of the federal government. d. equal to the current size of the budget deficit.
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What will be an ideal response?
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