Suppose there is currently a shortage in the guitar market. Pick the correct statement
A) Quantity demanded exceeds quantity supplied.
B) Sellers could sell all they plan to sell at the current price.
C) The price of guitars would tend to increase.
D) All of the above are true.
E) None of the above is true.
D
You might also like to view...
The sharp decline in domestic freight costs during the antebellum period was primarily due to the introduction of:
a. railroads. b. paved roads. c. clipper ships. d. canals and steamboats.
Which statement is false?
A. Our 2009 trade deficit with Japan was the highest deficit ever recorded with any one country. B. Our trading position with Japan is very much like a colony and a colonial power. C. Japan had an economic revival in the 1950s and 1960s largely by targeting the American consumer market. D. If we eliminated our trade deficits with Japan and China, we would still be running a trade deficit.