A market shortage occurs if the:
A) price is above the equilibrium price.
B) price is equal to the equilibrium price.
C) equilibrium price is above the current price.
D) equilibrium price is below the current price.
Ans: C) equilibrium price is above the current price.
Economics
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Which of the following is the least likely to be investment?
A. a household buying a new house B. a household saving for retirement C. GM building a new factory D. a car dealer adding to its cars on hand
Economics
An example of a normative statement is:
A) The rate of unemployment is 4 percent. B) A high rate of economic growth is good for the country. C) The federal government spends half of its budget on national defense. D) People with health insurance tend to spend more on health care than those who are uninsured.
Economics