At an equilibrium price:
a. quantity demanded exceeds quantity supplied.
b. quantity demanded equals quantity supplied
c. quantity demanded is less than quantity supplied.
d. there is no scarcity.
b
Economics
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The natural rate of unemployment is the rate that exists when the economy is producing at potential GDP
Indicate whether the statement is true or false
Economics
The ability-to-pay principle states that _____
a. individuals should pay taxes in proportion to their ability to pay b. individuals should not move to localities where they cannot pay the taxes c. individuals should not use government programs unless they contribute something in taxation d. individuals should pay taxes only if they benefit
Economics