When quantity demanded is more than quantity supplied:
a. rationing
b. price floor
c. excess demand
d. surplus
e. equilibrium
Ans: c. excess demand
Economics
You might also like to view...
Keynes was concerned about an implication of his consumption theory: that as an economy becomes more prosperous, its saving rate becomes too ________ to sustain that prosperity. Such a long-term trend in the U.S
saving rate is ________ in the time-series data. A) large, found B) large, not found C) small, found D) small, not found
Economics
Refer to the diagram below. If box E represents government, box C businesses, box D the resource market, and box B the product market, then government purchases of computers, office supplies, and military hardware would be illustrated by arrows:
A. 5 and 6
B. 7 and 8
C. 9 and 10
D. 10 and 11
Economics