When the price is below the equilibrium price, the quantity demanded
A) is less than the equilibrium quantity and the quantity supplied also is less than the equilibrium quantity.
B) is less than the equilibrium quantity but the quantity supplied exceeds the equilibrium quantity.
C) exceeds the equilibrium quantity and the quantity supplied also exceeds the equilibrium quantity.
D) exceeds the equilibrium quantity but the quantity supplied is less than the equilibrium quantity.
D
You might also like to view...
Refer to Figure 28-9. Fed Chairman Paul Volcker's response to the ________ of the late 1970s is depicted in the figure above as a movement from C to D to A
A) appreciation of the dollar B) high inflation C) high unemployment D) deflation
States are required by federal laws to offer child-support enforcement to all parents who request it
Indicate whether the statement is true or false