Which is not true of market equilibrium?
A. Circumstances can change from day to day which make any equilibrium very tentative.
B. All sellers who want to sell at the equilibrium price can find a buyer to sell to.
C. All buyers who want to buy at the equilibrium price can find a seller to buy from.
D. It is the most desirable outcome that a social order could have.
Answer: D
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As interest rates rise, banks seek to decrease their loans and, thereby, shrink the money supply
a. True b. False Indicate whether the statement is true or false
Consider a labor market that is initially in equilibrium. When the labor supply curve shifts to the left while the labor demand curve remains unchanged, the: a. equilibrium wage rate increases
b. price of the output that uses this labor resource decreases. c. equilibrium number of workers hired increases. d. equilibrium wage rate falls.